Insurance is a means of protection from financial loss. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss.
Nationwide Mutual Insurance Company and affiliated companies, commonly shortened to Nationwide, is a group of large U.S. insurance and financial services companies based in Columbus, OH. The company also operates regional headquarters in Scottsdale, AZ; Des Moines, IA; San Antonio, TX; Gainesville, FL; Raleigh, NC; Sacramento, CA, and Westerville, OH. Nationwide currently has approximately 25391 employees, and is ranked #76 in the 2019 Fortune 500 list. Nationwide is currently ranked #25 in Fortune's "100 Best Companies to Work For".
American Family Insurance, also abbreviated as AmFam, is an American private mutual company that focuses on property, casualty, and auto insurance, and also offers commercial insurance, life, health, and homeowners coverage as well as investment and retirement-planning products. A Fortune 500 company, its revenues were over $9.5 billion in 2017.
Liberty Mutual Group is an American diversified global insurer and the third-largest property and casualty insurer in the United States. It ranks 77th on the Fortune 100 list of largest corporations in the United States based on 2019 revenue. Based in Boston, Massachusetts, and featuring the Statue of Liberty on its logo, it employs over 45,000 people in more than 900 locations throughout the world. As of December 31, 2020, Liberty Mutual Insurance had $145.377 billion in consolidated assets, $119.420 billion in consolidated liabilities and $43.796 billion in annual consolidated revenue.
A mutual insurance company is an insurance company owned entirely by its policyholders. Any profits earned by a mutual insurance company are either retained within the company or rebated to policyholders in the form of dividend distributions or reduced future premiums. In contrast, a stock insurance company is owned by investors who have purchased company stock; any profits generated by a stock insurance company are distributed to the investors without necessarily benefiting the policyholders.
A reciprocal inter-insurance exchange is an unincorporated association in which policyholders exchange insurance policies to spread around risk by pooling their money together. In the reciprocal setup, the carrier is owned by policyholders, but managed by an attorney-in-fact (AIF). Policyholders of a reciprocal insurance exchange can be individuals, partnerships or businesses and are referred to as subscribers.
Wawanesa Insurance—officially The Wawanesa Mutual Insurance Company, also known as Wawanesa Mutual or simply Wawanesa —is a Canadian mutual insurance firm, as well as among Canada's ten largest property and casualty insurers.
COUNTRY Financial is a group of US insurance and financial services companies with customers in 19 states. The group of companies offers a range of insurance and financial products and services, including auto, home, life, commercial insurance, retirement planning, investment management and trust services.
George Jacob "G.J." Mecherle was the founder of State Farm, headquartered in Bloomington, Illinois. Mecherle, a farmer who became an insurance agent also, founded State Farm after becoming dissatisfied with the insurance rates charged to farmers, as those rates included the risks of city drivers as well.
Insurance in the United States refers to the market for risk in the United States, the world's largest insurance market by premium volume. Of the $5.380 trillion of gross premiums written worldwide in 2019, $1.548 trillion (28.8%) were written in the United States.
Safe Auto Insurance Company is a property and casualty auto insurance carrier. It is a privately held carrier and provider of state-minimum private-passenger auto insurance for drivers in the nonstandard insurance market in 19 states across the country, including Ohio, Indiana, Kentucky, Georgia, Pennsylvania, South Carolina, Tennessee, Louisiana, Mississippi, Illinois, Missouri, Arizona, Oklahoma, Kansas, Virginia, Texas, California, Alabama, and Colorado.
Merchants Insurance Group is a regional property and casualty insurance company headquartered in Buffalo, New York. The company provides commercial and personal property and casualty insurance throughout the Northeast and North Central United States. The company has regional offices in Hauppauge, New York; Manchester, New Hampshire; Moorestown, New Jersey.
Berkshire Hathaway GUARD Insurance Companies currently insure over 250,000 businesses in the US.
Captive insurance is an alternative to self-insurance in which a parent group or groups create a licensed insurance company to provide coverage for itself. The main purpose of doing so is to avoid using traditional commercial insurance companies, which have volatile pricing and may not meet the specific needs of the company. By creating their own insurance company, the parent company can reduce their costs, insure difficult risks, have direct access to reinsurance markets, and increase cash flow. When a company creates a captive they are indirectly able to evaluate the risks of subsidiaries, write policies, set premiums and ultimately either return unused funds in the form of profits, or invest them for future claim payouts. Captive insurance companies sometimes insure the risks of the group's customers. This is an alternative form of risk management that is becoming a more practical and popular means through which companies can protect themselves financially while having more control over how they are insured.
Intact Financial Corporation is a Canadian multinational property and casualty insurance company. Originally established in 1809 as the Halifax Fire Insurance Association, it was later acquired by Nationale-Nederlanden and from 1993 to 2009 was a subsidiary of the Dutch multinational ING Group under the name ING Canada. Intact Financial directly underwrites insurance through its subsidiary companies Intact Insurance and Belair Insurance, as well as operating additional brokerage, insurance service, and damage restoration subsidiaries. As of 2017, Intact was the largest provider of property and casualty insurance in Canada by annual premiums.
Federated Mutual Insurance Company ("Federated") is a direct writer of property and casualty insurance products headquartered in Owatonna, Minnesota. The Company has approximately 2,600 employees and operates in 47 states, with several service offices located throughout the country. Federated has an A.M. Best rating of "A+ (Superior)."
Harleysville Group Inc is a publicly traded insurance company based out of Harleysville, Pennsylvania. It writes predominantly commercial insurances policies constituting more than 80% of premium volume received by the corporation per annum.
Grange Mutual Casualty Company, commonly known as Grange Insurance, is an American insurance company based in Columbus, Ohio. Grange market's network is about 3,600 independent agents to offer home, auto, life, and business insurance protection to policyholders. The company, formed in 1935, now operates in 13 states. These states include Georgia, Illinois, Indiana, Iowa, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia, and Wisconsin.
State National Companies, Inc., is a specialty provider of property and casualty insurance operating in two niche markets, Program Services and Lender Services. The company is licensed to do business in all 50 states and D.C.
