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Farmers Insurance Group (informally Farmers) is an American insurer group of vehicles, homes and small businesses and also provides other insurance and financial services products. Farmers Insurance has more than 48,000 exclusive and independent agents and approximately 21,000 employees.
The company traces its history to the Great Depression in the 1930s, when the Iowa chapter of the Farm Bureau established Farm Bureau Mutual Insurance Company in 1939 to sell insurance to farmers. [3] Farm Bureau Life Insurance Company was founded as Iowa Life Insurance Company on October 30, 1944, and opened for business in 1945. [citation needed]
Farmers Insurance is upping the number of home policies it writes each month and resuming coverage for condos, renters and other dwellings, saying the California insurance market has improved.
American Family Insurance was founded on October 3, 1927, [5] when insurance salesman Herman Wittwer opened the doors of Farmers Mutual Insurance Company (not to be confused with the Farmers Insurance Group) in Madison, Wisconsin. At the time, the company's product was auto insurance and its target market was farmers.
In 1820, there were 17 stock life insurance companies in the state of New York, many of which would subsequently fail. Between 1870 and 1872, 33 US life insurance companies failed, in part fueled by bad practices and incidents such as the Great Chicago Fire of 1871. 3,800 property-liability and 2,270 life insurance companies were operating in ...
The least expensive type of life insurance is usually term life insurance. It provides coverage for a specific period — often 10, 20 or 30 years — and is typically much cheaper than permanent ...
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