Jeff Kinsey, assistant vice president and actuary at State Farm Insurance Companies, has been elected chair of the Highway Loss Data Institute (HLDI) Board of Directors. Kinsey takes over from Stefanie Zacchera, vice president of personal lines data and analytics at The Hartford, who remains on the Board. “There is no better time than now […]
Jon Farney Named to Succeed Michael Tipsord as CEO at State Farm
State Farm President Jon Farney has been selected as the company’s next Chief Executive Officer by the State Farm Mutual Board of Directors. Farney will formally begin his role on June 1. The announcement was shared this morning by Chairman and retiring CEO Michael Tipsord. “Jon and I have worked together for many years. I’ve […]
Top Three Private Passenger Auto Insurers Are Also Top Three Most Trusted P&C Insurance Carriers
Insurity’s P&C Consumer Pulse survey gauges consumer sentiment toward major P&C insurance carriers. Insurity, the provider of cloud software for insurance carriers, brokers, and MGAs, announced findings from its latest P&C Consumer Pulse survey, which offers insights into consumer attitudes toward major P&C insurance carriers. The survey identifies the top three P&C insurance companies deemed […]
State Farm Reports $14.1 Billion Underwriting Loss in 2023
Second year in a row reporting record underwriting loss on increased severity and catastrophe losses. In 2023, State Farm property and casualty insurance companies experienced growth in policies while also reporting record underwriting losses due to continued elevated claims severity and significant catastrophe activity, for both the auto and homeowners insurance companies. The State Farm […]
State Farm Expands Non-OEM Collision Repair Parts Across Most of the U.S.
Announcement follows test of expanded non-OEM part types in California and Arizona in June. State Farm announced to its Select Service shops yesterday, October 9, that the largest private passenger auto insurer in the U.S. would fully sunset the decades-old suspension of non-original equipment manufacturer (non-OEM) collision repair parts in across most U.S. states starting […]
State Farm Premiums Written Up Nearly 24% in Second Quarter
S&P Global says the company remains largest auto insurer in the U.S. State Farm Mutual Automobile Insurance Co. remained the largest personal auto insurer in the US during the second quarter amid a record quarter for the sector, according to an S&P Global Market Intelligence analysis. The insurer’s direct premiums written surged nearly 24% — […]
State Farm Reports 1.8 Million Animal Collisions in 12 Months to June 30
November is still the most dangerous month with an industry-estimated 297,000 collisions. New data released from State Farm pegs the odds of U.S. drivers hitting an animal at 1 in 127 this year. Drivers in West Virginia held on to the number one spot with the least favorable odds at 1 in 38. Montana (1 […]
State Farm Ventures Invests in Snapsheet
Investment strengthens multi-year relationship between investment arm of largest U.S. private passenger auto insurer and claims technology firm. Snapsheet, the company specializing in claims management technology, today announced a strategic investment from State Farm Ventures, the wholly-owned subsidiary of State Farm Mutual Automobile Insurance Company launched in 2018. Snapsheet streamlines and expedites the claims process, […]
State Farm Expands Non-OEM Collision Repair Parts Use in California and Arizona
Latest announcement follows re-introduction of non-OEM bumper covers, headlamps and taillamps to most U.S. states in December. State Farm announced to its Select Service shops yesterday, June 19, that due to continuing parts shortages, the largest private passenger auto insurer in the U.S. would expand the specification of non-original equipment manufacturer (non-OEM) collision repair parts […]
State Farm Releases 2022 Impact Report
State Farm has released its 2022 Impact Report, an overview of “our efforts to be a good neighbor and work toward a better world tomorrow.” This is the company’s third report and details its efforts in 2022 and provides an update on the commitments it made to build a better world. Formerly titled the Environmental, […]
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