The Automotive Service Association (ASA) Collision Operations Committee is raising concerns with the recently release scanning policy from State Farm that was sent to the largest U.S. auto insurer’s Select Service collision repair centers. ASA raised concerns that while the document indicates that the insurer does give consideration to OEM position statements, due to their […]
State Farm Sponsors SkillsUSA
State Farm Insurance Companies announced its continued support for SkillsUSA. The 2019 grant will support the mission of SkillsUSA and several national programs that help SkillsUSA instructors and their students become world class workers, leaders and responsible American citizens. State Farm is supporting: SkillsUSA’s Engage training for teachers at the SkillsUSA National Leadership and Skills […]
State Farm Reports 2018 Underwriting Gain, 8.77% Decline in Auto Claims Cost and Loss Adjustment Expense
In 2018, State Farm experienced a property-casualty underwriting gain, as well as increases in total revenue, net income and net worth. As the number one Auto and Homeowners insurer in the U.S., State Farm remains committed to serving its policyholders. The State Farm property-casualty (P-C) group of companies reported a combined underwriting gain of $1.7 […]
IIHS Announces State Farm’s Angela Sparks to Chair 2019 Board of Directors
The Insurance Institute for Highway Safety announced the election of Angela Sparks as the 2019 chair of its Board of Directors. She is the third woman to head the IIHS Board since the Institute’s 1959 founding. Sparks is vice president and actuary, State Farm Insurance Companies. She succeeds William L. Windsor Jr., who served as […]
Judge Approves $250 Million Settlement Agreement in State Farm Class Action
Approves September settlement in class action lawsuit against auto insurer. U.S. District Judge David Herndon gave final approval of the $250 million settlement between plaintiffs and State Farm Mutual Automobile Insurance Company that was announced in September. The settlement in Hale et. al. v. State Farm Mutual Automobile Insurance Company et. al. brings to a […]
Deer Crashes Down
State Farm annual report shows reduction in deer-related crashes. American Family reports higher deer hit claim costs. The 16th annual State Farm deer-vehicle collision study shows that overall in the U.S., drivers were less likely – one in 167 – to have a crash involving a collision with deer, elk, moose, or caribou. Last year’s […]
State Farm Launches $100 Million Venture Capital Initiative
State Farm, the largest insurer of cars and homes in the U.S., announced the launch of a $100 million venture capital initiative through its newly formed State Farm Ventures LLC. State Farm Ventures will focus on investing in startups developing technologies and products in order to fulfill customer needs in ways they wouldn’t think possible […]
AASP/NJ Executive Director Calls State Farm RICO Settlement “Travesty of Justice”
Alliance of Automotive Service Providers of New Jersey (AASP/NJ) President Jerry McNee and Executive Director Charles Bryant have spoken out about State Farm and Plaintiffs settlement announced last week on charges it conspired to elect an Illinois Supreme Court Justice to avoid a $1 billion settlement against the insurer over its specification of non-OEM parts […]
State Farm Settles Hale Class Action for $250 Million
As trial was scheduled to commence, a settlement was announced bringing to a close two decades of litigation on non-OEM parts. State Farm Mutual Automobile Insurance and the Plaintiffs in Hale et al v. State Farm Mutual Automobile Insurance Company et al announced they have reached a settlement agreement as the trial was set to […]
State Farm Racketeering Trial Starts This Week
The 2012 lawsuit alleges auto insurer recruited and bankrolled successful candidate for Illinois Supreme Court to overturn 1999 $1.18 billion non-OEM parts ruling. Plaintiffs in a 2012 lawsuit that alleges State Farm Automobile Insurance company recruited and bankrolled the successful candidacy of an Illinois Supreme Court Justice in 2004 so that he would overturn a […]
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