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The company was founded by Joe D. Morris as an insurance and investment enterprise. [1] [2] [3]In 1945, Morris acquired the former India Temple Shrine Building, which he remodeled to serve as the company's offices. [4]
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 United States by 1989.
1927 Farmers Mutual Automobile Insurance Company was founded on Oct. 3 in Madison, Wis. [6] 1938 Both premiums and assets surpassed $1 million. 1957 Farmers Mutual began to offer sickness and accident insurance. 1958 Company introduced homeowners insurance and opened American Family Life Insurance Company. [6]
In 2004, he was elected as the executive vice president and in 2006 he became the company COO. By 2007, he was the president and COO of American Family Mutual. Finally, in November 2011 he was elected as the chairman and CEO. [4] [2] As CEO, Salzwedel has overseen: The 2012 acquisition of The General Insurance. [7]
The remaining 21.3% of home insurance policies were covered by renter's or condominium insurance. 14.8% of these had the HO-4 Contents Broad form, also known as renters' insurance, which covers the contents of an apartment not specifically covered in the blanket policy written for the complex. [13]
American Strategic Insurance (ASI) was formed in 1997 and led by CEO and President, John Auer. Its initial offering was Florida homeowners insurance. [ 1 ] The company has experienced rapid growth and is now expected to offer coverage nationwide by 2017, establishing its place in the top 15 homeowners insurance providers in the United States. [ 2 ]