In our video interview, Russ Hoffbauer, director of claims for State Farm Insurance, explains the impact changing vehicle technology is having on collision repair claim frequency, cost and the referral process. He also examines changing claims technology as well as the continued evolution of the Select Service referral network. With over 18 percent of the […]
Class Action Status Granted in State Farm RICO Lawsuit
Lawsuit alleging State Farm influenced Illinois Supreme Court Justice granted class action status. A federal racketeering lawsuit involving State Farm and allegations of funneling money into the election of a state judge was granted class-action status on Friday. In 2012, plaintiffs Mark Hale, Todd Shadle and Carly Vickers Morse filed a two-count Racketeer Influenced and […]
State Farm Projects 2016 Likelihood of Deer Collision
Cost of large animal claims down slight in 2015-2016 State Farm has released its annual deer claim study, which ranks states by the potential drivers had of hitting a large animal, including deer, elk and moose over a given time period. On average, one of every 41 West Virginia drivers will have an insurance claim […]
State Farm Board Elects Tipsord Chairman
The State Farm Mutual Board of Directors yesterday unanimously elected CEO Michael Tipsord to the position of Chairman of the Board. Tipsord succeeds outgoing Chairman Edward B. Rust Jr. “It has been a true privilege to work with Ed,” said Tipsord. “For over 30 years, he led our Company and became the very personification of […]
Collision Repairers Provide Recycled Rides to First Responders and K9 Partners
With wildfire season approaching, collision repairers in several states teamed up through the National Auto Body Council’s Recycled Rides and the State Farm Arson Dog Program to provide critical and reliable transportation for first responders and their K9 partners as part of 2016 Arson Awareness Week. Participating collision repairers include Caliber Collision locations in Raleigh, […]
Regional Golf Fundraiser Paves Way for National Auto Body Council Programs
A full field of golfers representing all facets of the collision industry, with Enterprise Rent-A-Car as Presenting Sponsor and 33 additional sponsors, joined forces in Dallas, Texas for a successful day for the National Auto Body Council (NABC), the entire collision repair industry and most importantly three deserving North Texas families in need of transportation. […]
Largest Auto Insurers Added Market Share in 2015
The largest private passenger auto insurers in the U.S. gained market share in 2015. Growth continues long term trend. Since 2000, the largest private passenger automobile insurers have been growing their combined market share and more than half of all private passenger auto insurance in the United States is handled by just five companies. The […]
State Farm Reports $6.2B Net Income in 2015, Up 47.6% from 2014
Realized capital gains drive net income growth. Auto insurance earned premiums up $1 billion in 2015 versus 2014. Auto underwriting loss widens. The State Farm property-casualty (P-C) companies reported total revenue, which includes premium revenue, earned investment income, and realized capital gains (losses), was $75.7 billion for 2015 compared with $71.2 billion for 2014. State […]
State Farm’s Market Realignment Impact on Collision Repair Labor Rates
When State Farm announced earlier this year it would realign the local markets it uses to establish labor rates it said the effort might impact prevailing competitive prices paid to collision repair centers. We surveyed repairers to gauge the impact on labor rates and allowances. In July, State Farm announced it was realigning its traditional […]
State Farm to Realign Repair Facility Survey Markets
The largest auto insurer in the U.S. will update its local markets surveys areas based upon government definitions. May result in some changes to rates. State Farm Insurance announced it is refining the market definitions used in its repair facility survey. State Farm surveys allow eligible auto body repair facilities in the various markets the […]
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