State Farm has announced that although they faced a significant number of payments for catastrophe claims from some of the largest events in the quarter century history of the company, it has been able to maintain its financial strength. In 2011, State Farm’s combined net worth fell by $0.4 billion by the end of the year, bringing it to $60.8 billion. This includes the drop by $0.2 billion in the insurance company’s net worth in connection with the unaffiliated stock portfolios of the property and casualty companies. Moreover, those figures…
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Fascinating things you should know about renters’ insurance
Experts in the industry say that although moving day can be a very complex time and there are already a number of things that a renter has to remember, renters’ insurance should also be considered to be one of those vital elements on the moving day checklist. While some landlords require that their tenants have a policy, others leave it up to the individual renters. It helps to protect renters from damage, theft, or destruction of their valuable and personal items in the case of a break-in, fire, or other…
Read MoreState Farm announces closure of over twenty field locations
Last year was notoriously costly for insurers around the world. Natural disasters have taken their toll on many companies, causing some to close their doors and others to reevaluate their plans for continued operation. Given the recent catastrophes already occurring this year, companies are taking steps to save more money. State Farm is one such company, announcing plans for the closure of nearly 24 field offices in Illinois, Indiana and Michigan. The big name insurer is looking to shrink the size of its operations. Offices that it will not be…
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