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1999 West Adams Boulevard, Los Angeles California. , United States, 90018. Area served. Western United States. Website. www.gsmlife.com. Golden State Mutual Life Insurance Company, was once the largest black-owned insurance company in the western United States, founded by William Nickerson Jr. with the assistance of Norman Oliver Houston and ...
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 ...
Under a typical policy a slave could be insured for $500.00 with an annual premium of about $11.25. A lawsuit resolved in 1870 addressed the issue of debt for an enslaved person purchased on credit, after an insurance company refused to pay out on a property insurance claim, since the slave had committed suicide after being put in a slave mart ...
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an ...
A subsidiary, Executive Life Insurance Company of New York (ELNY), was seized by the state of New York, who sold the majority of the business to MetLife, retaining the structured settlement book of business. Due to mismanagement, ELNY was ordered to liquidate. [9] Guaranty Association Benefits Company took over the assets of ELNY in 2013.
Merchants Insurance Group was founded on March 5, 1918, the day Merchants Mutual Liability Company opened for business with Urban F. Jehle as President. Mr. Jehle, owner and operator of a grocery store in Buffalo, returned from a grocers’ convention with the idea of bringing merchants together for the mutual protection of their delivery vehicles.
On April 17, 2023, Pacific Life completed the sale of Pacific Asset Management to Aristotle Capital Management, LLC [ 12] The Pacific Life Foundation was established in 1984 and is headquartered in Newport Beach, California. Together with Pacific Life, the Foundation has contributed more than $142 million to community and national nonprofit ...
Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of an insured person (often the policyholder). Depending on the contract, other events such as terminal ...