State Farm® Pays Policyholders $5 Billion for Catastrophe Damage Through Third Quarter - 2011

Nation's Largest Insurer of Homes and Autos Assists Customers in Nearly One Million Catastrophe Claims

Sep 25, 2011, 13:00 ET from State Farm

BLOOMINGTON, Ill., Sept. 25, 2011 /PRNewswire/ -- As a summer of wildfires, tropical storms and hurricanes followed a spring of relentless tornadoes and hail storms, State Farm Insurance announced today it has paid its customers $5 billion to repair, rebuild and replace cars, homes, and other property damaged by weather-related catastrophes so far this year.  State Farm is the nation's largest insurer of homes and autos, and 2011 is likely to be one of the company's busiest years on record for catastrophe losses.

Through September 23rd, State Farm agents and claim representatives have helped policyholders on more than 970,000 catastrophe claims, stretching from wildfires in western Texas to storm damage in Maine. The company's catastrophe claims work is on top of the 11-12 million other auto, home and business claims reported to the company in a typical year.  The $5 billion customer payment figure accounts for all catastrophes occurring in 2011 and any residual payments made on catastrophes from prior years.

"The unrelenting, widespread volatile weather continues to cause problems for our policyholders.  Our claim teams have risen to the challenge and we are prepared with the necessary resources to respond.  About 4,300 specifically dedicated catastrophe claim representatives have joined thousands of local claim professionals and agents at catastrophe sites across the country," said Brian Boyden, State Farm Executive Vice President.

Across the country, State Farm claims operations on the ground are being assisted by three large claim centers helping policyholders with their claims.  In addition, State Farm agents are assisting with claims, and are available to provide advice on insurance and financial needs and can help customers better understand and choose the right coverage to protect them from the unexpected.

"Together, we've been able to help millions of people recover from everything from routine traffic accidents to devastating tornadoes. More importantly, they know we'll be ready to help them tomorrow as well," State Farm's Boyden added.

State Farm reported declared catastrophes in the following states:
Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Nebraska, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Vermont, Virginia, West Virginia, Wisconsin, Wyoming

Homeowners can learn ways to protect their home from severe weather and other hazards by visiting,

http://www.statefarm.com/aboutus/disaster/preparedness/preparedness.asp

About State Farm®:

State Farm and its affiliates are the largest provider of car insurance in the U.S. and is a leading insurer in Canada. In addition to providing auto insurance quotes, their 17,800 agents and more than 65,000 employees serve 81 million policies and accounts – more than 79 million auto, home, life and health policies in the United States and Canada, and nearly 2 million bank accounts. Commercial auto insurance, along with coverage for renters, business owners, boats and motorcycles, is also available. State Farm Mutual Automobile Insurance Company is the parent of the State Farm family of companies. State Farm is ranked No. 37 on the Fortune 500 list of largest companies. For more information, please visit http://www.statefarm.com or in Canada http://www.statefarm.ca.

SOURCE State Farm



RELATED LINKS

http://www.statefarm.com