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The company was also looking at the idea of possibly changing the company's name, in light of the newly approaching 21st Century. However, all its plans for growth were immediately put on hold due to the January 17, 1994, magnitude-6.7, Northridge Earthquake that cost the company over $1,065 billion...
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20th's, Corporate Relations, Senior Vice President, Ric Hill, stated "The only way to see if your crisis plan works is to have a crisis."
The mere concept of insurance is in some ways a form of personal crisis management for the individual insured. One must set things/plans in place to be prepared for all types of crisis...
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