Memberus-gaap:CashAndCashEquivalentsMember2020-12-310000080661pgr:ARXHoldingCorp. Memberus-gaap:CashAndCashEquivalentsMember2019-12-310000080661pgr:ARXHoldingCorp. Our competitors are specialty companies and large multi-line insurance carriers. To help mitigate these risks, we enter into reinsurance arrangements. See the "Reinsurance" section below for further discussion of our reinsurance programs. All of these programs are governed by insurance regulations. In addition, during 2020, we had a property catastrophe aggregate excess of loss program. The combined premiums-to-surplus ratio for all of our insurance companies was 2.7 to 1. For example, certain states limit an insurer's ability to cancel or non-renew policies. Promoting from within is a key part of our strategy. 13 -Our success depends on our ability to establish accurate loss reserves. Our ability to predict future competitive conditions is also constrained as a result. We own 82 buildings located throughout the United States. See notes to condensed financial statements. - S-K,Item 601Form 10-KExhibitNo. Calls for such meetings shall specify the purposes thereof. Procedures for Shareholder Nominations. A majority of the executive committee shall be necessary to constitute a quorum. Lost, Destroyed or Stolen Certificates. Target Percentages may be changed from year to year by the Chief Human Resource Officer. Qualification Date; Leave of Absence; Withholding. C.Compliance with Law and Exchange Requirements. 91;INCLUDE THE FOLLOWING IF AWARD IS PERFORMANCE-BASED: Recoupment. Annual Incentive Payments are not earned until paid. For our Property business, the risk of uncollectibility is relatively low. Income Taxes The income tax provision is calculated under the balance sheet approach. We review our deferred tax assets regularly for recoverability. See Note 5 – Income Taxes for further discussion. Service Revenues and Expenses Our service businesses provide insurance-related services. Based on our review, all prices received from external sources remained unadjusted. App.-A-33Reinsurance contracts do not relieve us from our obligations to policyholders. The restricted stock awards are issued as time-based awards. We describe litigation contingencies for which a loss is probable. Property policies are written for 12-month terms. Other insurance companies and/or large employers face many of these same issues. At December 31, 2020 and 2019, we were within all of the constraints described above. Throughout the year, our purchases and sales were contingent on overall spread levels. In addition, severity will vary relative to the change in our mix of business by limit. There were 1,896 shareholders of record on December 31, 2020. Thankfully, our guidance is very clear and led by our five Core Values. Good morning Progressive family! The key, of course, is to focus on being nimble while concentrating on our customers. Here are a few anonymous quotes that tell the story better than I can. I take care of my daughter who lost her job and my granddaughter as well. Trust is tested during times when you may need it the most. I couldn't stop crying when the agent granted me a lee way. I had been placed in quarantine from a job with no benefits. It was the hand offering help I needed." " ""Thank you very much for your support while the country is going through a tough time. The phone agent was amazing and solved my issue. You just don't know how much that means to us. For us,
