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STATE FARM INSURANCE

State Farm Insurance is a group of insurance and financial services companies. State Farm has remained the largest automobile insurer in the United States continuously since 1942 and insures more cars and homes in the United States than any other insurer.[2]The group’s main company is State Farm Mutual Automobile Insurance Company, a mutual insurance firm that also owns the other State Farm companies. The corporate headquarters are in Bloomington, Illinois.

State Farm is ranked 32nd in the 2008 Fortune 500, which lists American companies by revenue.[3] According to the Fortune Global 500, State Farm is also the world’s largest mutual “P&C” (property & casualty insurance) firm; the only other P&C mutual in the Global 500 is Groupama in Europe.[5] In October 2008, State Farm Insurance Companies in Canada was named one of Greater Toronto’s Top Employers by Mediacorp Canada Inc., which was announced by the Toronto Star newspaper  ,A February 4, 2009 Wall St. Journal article stated, “Last month State Farm pulled the plug on its 1.2 million homeowner policies in Florida, citing the state’s punishing price controls… State Farm’s local subsidiary recently requested an increase of 47%, but state regulators refused. State Farm says that since 2000 it has paid $1.21 in claims and expenses for every $1 of premium income received.

Date : 02-04-2009
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