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, […]
State Farm Reports Record Underwriting Losses in 2022
Auto insurance business reports underwriting loss of $13.4 billion. In 2022, State Farm’s auto insurance companies reported record underwriting losses due to rapidly increasing claims severity and significant additions to prior accident year incurred claims. While State Farm experienced unfavorable operating results in auto, State Farm Mutual Automobile Insurance Company remains financially strong. State Farm […]
State Farm Rolling Out Expanded Non-OEM Collision Repair Parts Use to Most U.S. States
Following the test in Texas and Oklahoma announced in June, the largest private passenger auto insurer in the U.S. will reintroduce CAPA-certified non-OEM collision repair parts. State Farm announced to its Select Service shops yesterday, December 6, that due to continuing supply chain issues it will reintroduce expanded specification of non-original equipment manufacturer (non-OEM) collision […]
New Hampshire Supreme Court Rules in Favor of Collision Repair Shop in Assignment of Benefits Dispute with State Farm
Majority opinion says policy language restricting an insured’s ability to assign the benefits of their claim to a collision repair facility is ambiguous, overturning a lower court ruling to dismiss the case. The New Hampshire Supreme Court on Tuesday overturned a lower court ruling that in favor of State Farm to dismiss a breach of […]
Allstate Receives Private Passenger Auto Physical Damage Rate Increase in California
The increase is the first for Allstate in nearly five years and first for the industry in more than two years since the start of the pandemic. On October 30, the California Department of Insurance (CDI) approved Allstate’s request for a 6.9% increase in its personal auto liability and physical damage rates. The CDI has […]
State Farm Reports Fewer Animal Collisions in Annual Analysis
Pennsylvania had the most animal collision claims. Auto claims data reveals drivers struck less animals than previous year according to an analysis by State Farm, the number one private passenger auto insurer in the United States. Between July of 2021 and June 2022 an estimated 1.9 million animal collisions happened across US roads, 5.5% less […]
State Farm Claims Data Reveals Continued Surge in Catalytic Converter Theft
Claims data from State Farm, the largest insurer of automobiles in the U.S., shows that between July 2021 and June 2022 catalytic converter theft has grown 109% nationally, in terms of the number of claims filed, compared to the previous 12 months. During this recent period more than 43,219 of these parts were stolen and […]
GHSA Study Finds Rural Roads Are Disproportionately Deadly
In-depth report examines who dies in rural road crashes, why and offers nearly three dozen safety recommendations for states. Rural roads are beautiful, but they’re hiding a deadly secret – nearly half of all fatal crashes occur on them, even though only 19% of the U.S. population lives in rural areas. A new report from […]
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