21st Century Insurance 21st Century Insurance is an auto insurance company and is wholly owned by the Farmers Insurance Group of CompaniesThey are headquartered in Wilmington, Delaware, and provide private passenger auto insurance in the states of California and Hawaii.
History
21st Century Insurance was founded in 1958 by Louis W. Foster as an inter-insurance exchange offering auto insurance, primarily in California. Initially, the company was called 20th Century Insurance.The company was purchased in 2005 by AIG and then later sold in 2009 to Farmers Insurance Group of CompaniesVehicle insurance (also known as car insurance or motor insurance) is insurance purchased for cars, trucks, motorcycles, and other road vehicles. Its primary use is to provide financial protection against physical damage and/or bodily injury resulting from traffic collisions and against liability that could also arise there from. The specific terms of vehicle insurance vary with legal regulations in each region. To a lesser degree vehicle insurance may additionally offer financial protection against theft of the vehicle and possibly damage to the vehicle, sustained from things other than traffic collisions.Widespread use of the automobile began after the First World War in the cities. Cars were relatively fast and dangerous by that stage, yet there was still no compulsory form of car insurance anywhere in the world. This meant that injured victims would seldom get any compensation in an accident, and drivers often faced considerable costs for damage to their car and property.
A compulsory car insurance scheme was first introduced in the United Kingdom with the Road Traffic Act 1930. This ensured that all vehicle owners and drivers had to be insured for their liability for injury or death to third parties whilst their vehicle was being used on a public road.American National is subject to insurance regulation and examination by all 50 states as well as federal entities like the U.S. Securities and Exchange Commission (SEC) and Federal Trade Commission. In addition, its records are audited by KPMG as well as the major financial rating agencies. The ratings reflect the company’s capitalization, operating performance and liquidity. American National was listed in Forbes Magazine in its "100 Most Trustworthy Companies" list for 2009.The Moody Foundation is a charitable foundation incorporated in Texas and based in the island city of Galveston. It was chartered in 1942 by William Lewis Moody, Jr. and his wife Libbie Shearn Rice Moody "to benefit, in perpetuity, present and future generations of Texans." The foundation focuses the majority of its funding on programs involving education, social services, children’s needs, and community development.The foundation makes grants through its Galveston, Texas headquarters and through a field office located in Dallas. In fiscal year 2006, it reported assets of $1.197 billion and approved $33 million in grants[4] for projects that focused on education, social services, children’s needs, and community development.
21st Century Insurance Info
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