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 […]
Governors Highway Safety Association Report Examines Traffic Safety Issues of Autonomous Vehicle Safety
Automated vehicles will bring new and perhaps unanticipated traffic safety issues to the states. The Governors Highway Safety Assocation’s (GHSA) Preparing for Automated Vehicles: Traffic Safety Issues for States report outlines these issues and discusses how law enforcement and State Highway Safety Offices (SHSOs) should prepare for them. Funded by State Farm, the report analyzes market trends […]
State Farm Reports Auto Premiums Up 7.2% in 2017 While Claim Expense Declines
Auto insurance underwriting loss narrows to 2.8 billion in 2017 The State Farm property-casualty (P-C) group of companies today reported a combined underwriting loss of $6.5 billion in 2017 on earned premium of $63.9 billion, compared to an underwriting loss of $5.5 billion on earned premium of $61.7 billion in 2016. The 2017 underwriting loss, […]
State Farm Earns I-CAR Insurance Gold Class Status
The Inter-Industry Conference on Auto Collision Repair (I-CAR) announced it has awarded Insurance Gold Class business recognition at the corporate level to State Farm as its appraiser staff has completed the Platinum Auto Physical Damage Appraiser (APDA) training requirements in I-CAR’s Professional Development Program (PDP). State Farm’s Select Service Program also recognizes I-CAR’s Welding Training […]
RICO Lawsuit Against State Farm to Proceed
Judge denies State Farm motion to dismiss case seeking reinstatement of $1.18 billion aftermarket collision repair parts verdict. U.S. District Judge David R. Herndon denied a motion last week by State Farm attorney seeking a summary judgement to have a 2012 lawsuit dismissed that alleges the auto insurer recruited and secretly bankrolled Illinois Supreme Court […]
State Farm Reports Deer Hit Damage Costs Up
Animal hit claim cost up 4.6 percent State Farm released the results of its 15th annual deer claim study that helps define that danger for drivers. It ranks states by the potential likelihood a driver has of hitting a large animal, like deer, elk, moose or caribou. This year’s study has some good news for […]
Appeals Court Overturns Dismissal in Collision Repair Shop Lawsuits Against Insurers
Court rules lawsuits by five body shops alleging federal antitrust and state law violations can proceed. On Thursday, the United States Court of Appeals for the Eleventh Circuit overturned a District Court ruling that had dismissed complaints in five lawsuits brought by collision repair facilities alleging violations of federal antitrust law as well as violations […]
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