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State Farm

From Wikipedia, in a visual modern way
State Farm Mutual Automobile Insurance Company
TypePrivate[1]
IndustryInsurance
FoundedJune 7, 1922; 100 years ago (1922-06-07)[2]
FounderGeorge J. Mecherle
SuccessorDesjardins Insurance (Canada)
Headquarters
Bloomington, Illinois
,
United States
Number of locations
18,000 agents
343 claim offices
30 operations centers[3]
Area served
United States
Key people
Michael L. Tipsord (Chairman,​ President & CEO)[4]
Services
  • Banking
  • Insurance
  • Investing
RevenueDecrease US$79.395 billion (2019)[1]
Decrease US$5.593 billion (2019)[1]
Total assetsIncrease US$294.82 billion (2019)[1]
Total equityIncrease US$116.23 billion (2019)[1]
Number of employees
57,672 (2019)[1]
DivisionsInsurance; mutual funds; State Farm Bank
Subsidiariessee Subsidiaries below
Websitestatefarm.com
Not to be confused with Farmers Insurance Group.
For other uses, see state farm (disambiguation).

State Farm Insurance is a group of mutual insurance companies throughout the United States with corporate headquarters in Bloomington, Illinois. Founded in 1922, it is the largest property, casualty, and auto insurance provider in the United States.

Overview

State Farm is the largest property and casualty insurance provider, and the largest auto insurance provider, in the United States.[5] State Farm is ranked 42nd in the 2022 Fortune 500, which lists American companies by revenue.[6]

State Farm relies on exclusive agents (also known as captive agents) to sell insurance. Only State Farm agents can sell State Farm insurance, and their agents can sell only State Farm products.[7][8]

Financial services

State Farm Insurance in Ontario.
State Farm Insurance in Ontario.

State Farm has expanded into the financial services arena, such as banking and mutual funds.

The bank opened in May 1999 and is operated by State Farm Financial Services, FSB, a subsidiary of State Farm Mutual Automobile Insurance Co. These are separate from its insurance products. State Farm Bank does not have branch offices. Its regular banking services, which include checking and savings accounts, certificates of deposit, and money market accounts, are available to consumers countrywide via the Internet or over the phone, and through agents. Home mortgages are available countrywide over the phone or through agents.[9]

In the 1950s, State Farm held a contest among the agents, to come up with ideas to expand the State Farm business. Robert H. Kent, a State Farm agent in Chicago, came up with the idea of providing auto loans to existing policyholders. Robert H. Kent was friends with a local bank president at LaSalle NW, and the two teamed up to pilot the auto finance program. State Farm liked the idea so much that it was rolled out to all the agents. Robert H. Kent received royalties on the program for 20 years. This event created the first marketing partnership between insurance companies and banks.

History

State Farm Insurance "Fire Building" in downtown Bloomington, Illinois.
State Farm Insurance "Fire Building" in downtown Bloomington, Illinois.

State Farm was founded in June 1922 by retired farmer George J. Mecherle as a mutual automobile insurance company owned by its policyholders.[10] The firm specialized in auto insurance for farmers and offered better rates than rival companies, which must also cover expensive premiums of the urban motorists.[11] It later expanded services into other types of insurance, such as homeowners and life insurance, and then to banking and financial services.

As of December 2017, State Farm had 70,000 employees and 19,000 agents.[12] February 2014 figures show the group servicing 80 million policies in the United States and Canada, of which over 44,000,000 are for automobiles, 27,000,000 are for fire, 7,000,000 for life, and more than 2 million bank accounts.

Michael L. Tipsord is chairman and CEO of State Farm Mutual Automobile Insurance Company,[3] and president and chief executive officer of State Farm Fire and Casualty Company, State Farm Life Insurance Company, and other principal State Farm affiliates.

By 2017, State Farms announced its plan to exit 11 facilities in America with the goal of streamlining and improving processes.[13] In 2014, it already sold its operations in Canada to Desjardins Group, which continued to use the State Farm name.[14] Canadian policies were transferred to be underwritten by Desjardins Group on January 1, 2015. The State Farm brand continued to be used for agents and marketing until 2018.[14][15] In 2018, State Farm Canada was officially rebranded to Desjardins Insurance through Desjardins Insurance Agents.[16] The whole transition was completed in 2019.[17]

State Farm's tri-oval logo from 1953 to 2012.
State Farm's tri-oval logo from 1953 to 2012.

The State Farm interlocked red tri-oval logo was created in the mid-to-late 1940s and later updated in 1953. For nearly 60 years, this design was critical to its brand image.

On December 23, 2011, State Farm decided to transform its interlocked tri-oval logo to a contemporary logo to showcase the company's core service offerings of auto, fire, and life. The new logo was introduced January 1, 2012, in celebration of the company's 90th anniversary. It consists of a simple three-oval design adjacent to the State Farm wordmark. According to Pam El, marketing vice president at State Farm, a change in image was needed to employ a bolder presence that could compete in today's digital world.[18]

CEOs

CEO Years Served
George J. Mecherle 1922–1937 (14)
Raymond Mecherle 1937–1954 (16)
Adlai Rust 1954–1970 (15)
Edward B. Rust Sr. 1970–1985 (14)
Edward B. Rust Jr. 1985–2015 (29)
Michael L. Tipsord 2015–present

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George J. Mecherle

George J. Mecherle

George Jacob "G.J." Mecherle was the founder of State Farm, headquartered in Bloomington, Illinois. Mecherle, a farmer who became an insurance agent also, founded State Farm after becoming dissatisfied with the insurance rates charged to farmers, as those rates included the risks of city drivers as well.

Mutual organization

Mutual organization

A mutual organization, or mutual society is an organization based on the principle of mutuality and governed by private law. Unlike a true cooperative, members usually do not contribute to the capital of the company by direct investment, but derive their right to profits and votes through their customer relationship. A mutual organization or society is often simply referred to as a mutual.

Chief executive officer

Chief executive officer

A chief executive officer (CEO), also known as a central executive officer, chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization – especially an independent legal entity such as a company or nonprofit institution. CEOs find roles in a range of organizations, including public and private corporations, non-profit organizations and even some government organizations. The CEO of a corporation or company typically reports to the board of directors and is charged with maximizing the value of the business, which may include maximizing the share price, market share, revenues or another element. In the non-profit and government sector, CEOs typically aim at achieving outcomes related to the organization's mission, usually provided by legislation. CEOs are also frequently assigned the role of main manager of the organization and the highest-ranking officer in the C-suite.

Desjardins Group

Desjardins Group

The Desjardins Group is a Canadian financial service cooperative and the largest federation of credit unions in North America. It was founded in 1900 in Lévis, Quebec by Alphonse Desjardins. While its legal headquarters remains in Lévis, most of the executive management, including the CEO, is based in Montreal.

Desjardins Insurance

Desjardins Insurance

Desjardins Insurance is the insurance unit of Desjardins Group, the largest association of credit unions in Canada. Desjardins Insurance has two principal subsidiaries: Desjardins Financial Security and Desjardins General Insurance.

Edward B. Rust Jr.

Edward B. Rust Jr.

Edward Barry Rust Jr. was chairman of the board of State Farm Mutual Automobile Insurance Company, Bloomington, Illinois. He is a former President and Chief Executive Officer of State Farm Mutual Automobile Insurance Company and State Farm Fire and Casualty Company, State Farm Life Insurance Company and other principal State Farm affiliates. Ed Rust stepped down on September 1, 2015; when Michael Tipsord was named the new President and CEO of State Farm Insurance. Ed Rust's father Edward Sr. and his grandfather Adlai Rust before him also led State Farm.

Michael L. Tipsord

Michael L. Tipsord

Michael L. Tipsord is the chairman of the board of State Farm Insurance in Bloomington, Illinois. Tipsord replaced Edward B. Rust Jr. as chairman on September 1, 2015. State Farm is the 42nd largest company in the United States on the Fortune 500 and the country’s largest auto and home insurer.

Subsidiaries

The State Farm booth at the Gasparilla Distance Classic Expo in 2020.
The State Farm booth at the Gasparilla Distance Classic Expo in 2020.

State Farm Mutual Automobile Insurance Company is the parent company of several wholly owned State Farm subsidiaries:[2]

  • State Farm Fire and Casualty Company
  • State Farm Life Insurance Company
  • State Farm Life and Accident Assurance Company (NY/CT/WI)
  • State Farm County Mutual Insurance Company of Texas (TX auto)
  • State Farm Mutual Insurance Company of Texas (TX preferred auto)
  • State Farm Indemnity Company / State Farm Guaranty Insurance Company (NJ auto)
  • State Farm General Insurance Company (CA home)
  • State Farm Florida Insurance Company (FL home)
  • Dover Bay Specialty Insurance Company[19]
  • State Farm Lloyds (TX home/commercial)
  • State Farm Bank, F.S.B.
  • State Farm Investment Management Corp. (SFIMC)
  • State Farm VP Management Corp. (SFVPMC)
  • State Farm International Service, Inc.
  • State Farm Associate's Funds Trust
  • State Farm Mutual Fund Trust
  • SF Insurance Placement Corporation of Canada
  • Insurance Placement Services, Inc.
  • State Farm International Life Insurance Company Ltd.
  • Plaza One Realty Co.
  • State Farm Specialty Insurance Company
  • State Farm Guaranty Insurance Company
  • State Farm Variable Product Trust
  • HiRoad Assurance Company[20]
  • Amberjack Ltd. (Real Estate)[21]

Former

  • State Farm Insurance of Canada – Based in Aurora, Ontario, was transferred to Desjardins Insurance in 2015 and completed by 2019. State Farm Finance Corporation Canada and State Farm Investor Services Canada Co. will merge into Desjardins as well.[22]

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Subsidiary

Subsidiary

A subsidiary, subsidiary company or daughter company is a company owned or controlled by another company, which is called the parent company or holding company. Two or more subsidiaries that either belong to the same parent company or having a same management being substantially controlled by same entity/group are called sister companies.The subsidiary will be required to follow the laws where it is headquartered and incorporated. It will also maintain its own executive leadership.

Connecticut

Connecticut

Connecticut is the southernmost state in the New England region of the Northeastern United States. As of the 2020 United States census, Connecticut was home to over 3.6 million residents, its highest decennial count count ever, growing every decade since 1790. The state is bordered by Rhode Island to its east, Massachusetts to its north, New York to its west, and Long Island Sound to its south. Its capital is Hartford, and its most populous city is Bridgeport. Historically, the state is part of New England as well as the tri-state area with New York and New Jersey. The state is named for the Connecticut River which approximately bisects the state. The word "Connecticut" is derived from various anglicized spellings of "Quinnetuket”, a Mohegan-Pequot word for "long tidal river".

Wisconsin

Wisconsin

Wisconsin is a state in the upper Midwestern United States. Wisconsin is the 25th-largest state by total area and the 20th-most populous. It is bordered by Minnesota to the west, Iowa to the southwest, Illinois to the south, Lake Michigan to the east, Michigan to the northeast, and Lake Superior to the north.

Texas

Texas

Texas is a state in the South Central region of the United States. At 268,596 square miles (695,660 km2), and with more than 30 million residents in 2022, it is the second-largest U.S. state by both area and population. Texas shares borders with the states of Louisiana to the east, Arkansas to the northeast, Oklahoma to the north, New Mexico to the west, and the Mexican states of Chihuahua, Coahuila, Nuevo León, and Tamaulipas to the south and southwest; and has a coastline with the Gulf of Mexico to the southeast.

New Jersey

New Jersey

New Jersey is the most densely populated U.S. state. A coastal state, New Jersey is situated at the center of the Northeast megalopolis, the most populous American urban agglomeration. The state lies within both the Mid-Atlantic and Northeastern regions of the United States. New Jersey is bordered on its north and east by the state of New York; on its east, southeast, and south by the Atlantic Ocean; on its west by the Delaware River and Pennsylvania; and on its southwest by Delaware Bay and the state of Delaware. At 7,354 square miles (19,050 km2), New Jersey is the fifth-smallest state in land area, but with close to 9.3 million residents as of the 2020 United States census, its highest decennial count ever, ranks 11th in population. The state capital is Trenton, and the most populous city is Newark. New Jersey is the only U.S. state in which every county is deemed urban by the U.S. Census Bureau, with 13 counties included in the New York metropolitan area, seven counties in the Philadelphia metropolitan area, and with Warren County constituting part of the rapidly industrializing Lehigh Valley metropolitan area.

California

California

California is a state in the Western United States, located along the Pacific Coast. With nearly 39.2 million residents across a total area of approximately 163,696 square miles (423,970 km2), it is the most populous U.S. state and the third-largest by area. It is also the most populated subnational entity in North America and the 34th most populous in the world. The Greater Los Angeles and San Francisco Bay areas are the nation's second and fifth most populous urban regions respectively, with the former having more than 18.7 million residents and the latter having over 9.6 million. Sacramento is the state's capital, while Los Angeles is the most populous city in the state and the second most populous city in the country. San Francisco is the second most densely populated major city in the country. Los Angeles County is the country's most populous, while San Bernardino County is the largest county by area in the country. California borders Oregon to the north, Nevada and Arizona to the east, the Mexican state of Baja California to the south; and it has a coastline along the Pacific Ocean to the west.

Florida

Florida

Florida is a state in the Southeastern region of the United States, bordered to the west by the Gulf of Mexico; Alabama to the northwest; Georgia to the north; the Bahamas and Atlantic Ocean to the east; and the Straits of Florida and Cuba to the south. It is the only state that borders both the Gulf of Mexico and the Atlantic Ocean. With a population exceeding 21 million, it is the third-most populous state in the nation as of 2020. It spans 65,758 square miles (170,310 km2), ranking 22nd in area among the 50 states. The Miami metropolitan area, anchored by the cities of Miami, Fort Lauderdale, and West Palm Beach, is the state's largest metropolitan area with a population of 6.138 million, and the state's most-populous city is Jacksonville with a population of 949,611. Florida's other major population centers include Tampa Bay, Orlando, Cape Coral, and the state capital of Tallahassee.

Aurora, Ontario

Aurora, Ontario

Aurora is a town in central York Region in the Greater Toronto Area, within the Golden Horseshoe of Southern Ontario, Canada. It is located north of the City of Richmond Hill and is partially situated on the Oak Ridges Moraine. In the Canada 2021 Census, the municipal population of Aurora was the 92nd largest in Canada, compared to 95th for the 2016 Census and 97th for the 2006 Census. Aurora is twinned with Leksand, Sweden.

Desjardins Insurance

Desjardins Insurance

Desjardins Insurance is the insurance unit of Desjardins Group, the largest association of credit unions in Canada. Desjardins Insurance has two principal subsidiaries: Desjardins Financial Security and Desjardins General Insurance.

Marketing and promotions

Jingle

The State Farm jingle ("Like a good neighbor, State Farm is there") was written by American singer-songwriter Barry Manilow in 1971. A cover was released by Weezer in 2011.[23][24] State Farm's first commercial jingle was created for The Jack Benny Program in the 1960s.[25]

Television ads

In June 2011, State Farm's premiered its "Get to a Better State" campaign. This campaign focuses on making humor out of unfortunate problems that are commonly faced. These commercials then make light of the situation by demonstrating how easy it is to contact an agent and correct the problem that has occurred. Each of these commercials follows a similar structure. A group of one to three people find themselves in an unfortunate situation. Someone in the group will then call on their State Farm agent by singing the jingle “like a good neighbor, State Farm is there”. A State Farm agent will then appear, as if by magic, and help the group out with their problem. There are a few commercials that deviate from this structure, but still follow the same ultimate pattern.

Also in 2011, State Farm premiered its "State of..." advertising campaign. One notable commercial, "State of Unrest", shows a man awake at 3:00 in the morning on the phone with a State Farm representative.[26] The man's wife sees him talking on the phone in a secretive manner. She is suspicious and asks who is on the phone, to which her husband says: "It's Jake from State Farm" (the original Jake from State Farm was portrayed by Jake Stone, who actually worked for the company). The man's wife then takes the phone and asks, "What are you wearing, 'Jake from State Farm?'", to which the male agent responds in a timid way, "Uh, khakis". The undaunted wife says, "She sounds hideous", and the husband replies, "Well she's a guy, so…"[27] In May 2015, a variation of "State of Unrest" premiered, starring The Coneheads from Saturday Night Live, with Dan Aykroyd and Jane Curtin reprising their respective roles as Beldar and Prymaat. This ad series later added Laraine Newman as Connie.

In late 2014, State Farm released a critically acclaimed commercial showing a man (played by Justin Bartha) who says that he will "never" do something (such as getting married, having kids, moving to the suburbs, and buying a minivan), only to do all of those. At the end of the commercial, he admits that he is "never letting go." The commercial is based on the saying "never say never" and how people say that they will "never" do something, only to do it anyway.[28]

In 2015,[29] State Farm released The Hoopers, a series of State Farm commercials focusing on a family, including NBA players Chris Paul playing the father, DeAndre Jordan playing the mother, Kevin Love playing the son, Kevin Garnett playing the grandfather and Damian Lillard playing the baby. Additionally, a State Farm agent plays the role of a helpful neighbor in the set of commercials.[30]

In 2020, Kevin Miles took over the role of Jake from State Farm from Jake Stone in a series of commercials,[31] the first ad airing before Super Bowl LIV, as a reimagining of the original 2011 "State of Unrest" commercial from the "State of..." campaign. Craig Miller of State Farm's agency The Marketing Arm said the character was so popular people were still dressing as him for Halloween.[32] Jake from State Farm, who wears a red shirt and khakis,[33] appeared in different settings, including a beekeeper outfit and a parody of The Bachelorette, and in a number commercials with celebrities, including Alfonso Ribeiro, Chris Paul, Aaron Rodgers and Paul Rudd.[31] On his first anniversary as Jake, Miles appeared in a commercial during Super Bowl LV in which Drake appeared as his stand-in.[33] According to Marketing Arm, Jake is better known than Katie Couric or Hilary Swank and 80 percent of those who know him like him.[32]

Sponsorships

State Farm sponsored the annual Lone Star Showdown
State Farm sponsored the annual Lone Star Showdown

Services

State Farm Safety Patrol – State Farm, in partnership with several U.S. highway authorities, operates a service called the State Farm Safety Patrol which provides free roadside assistance to stranded motorists on participating highways. When a driver calls the designated telephone number for the Safety Patrol, they will respond and provide the following services: fuel refills; radiator refills; engine oil refills. Most Safety Patrol personnel are also CPR and Automated External Defibrillator certified. They work to reduce accident rates, minimize the duration time of incidents, assist disabled drivers and remove road debris. Turnpikes which currently participate include, Florida's Turnpike in the State of Florida[34] and the Pennsylvania Turnpike in the Commonwealth of Pennsylvania.[35] In Ohio, State Farm–branded safety patrol vans service major highways in the Cincinnati, Toledo, Cleveland, Columbus, Dayton, Akron, and Canton areas on weekdays.[36]

State Farm won the 2020 Webby Award for Services & Utilities in the category Apps, Mobile & Voice.[37]

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Barry Manilow

Barry Manilow

Barry Manilow is an American singer and songwriter with a career that spans seven decades. His hit recordings include "Could It Be Magic", "Looks Like We Made It", "Mandy", "I Write the Songs", "Can't Smile Without You", and "Copacabana ".

Chino cloth

Chino cloth

Chino cloth is a twill fabric, originally made of 100% cotton. The most common items made from it, trousers, are widely called chinos. Today it is also found in cotton-synthetic blends.

Dan Aykroyd

Dan Aykroyd

Daniel Edward Aykroyd is a Canadian actor, comedian, writer, producer, and musician. Aykroyd was a writer and an original member of the "Not Ready for Prime Time Players" cast on the NBC sketch comedy series Saturday Night Live from its inception in 1975 until his departure in 1979. During his tenure on SNL, he appeared in a recurring series of sketches, particularly featuring the Coneheads and the Blues Brothers. For his work on the show, he received five Primetime Emmy Award nominations winning for Outstanding Writing for a Variety Series in 1977. After his departure, he has since returned in guest roles.

Jane Curtin

Jane Curtin

Jane Therese Curtin is an American actress and comedian. First coming to prominence as an original cast member on the hit TV comedy series Saturday Night Live in 1975, she went on to win back-to-back Emmy Awards for Best Lead Actress in a Comedy Series on the 1980s sitcom Kate & Allie portraying the role of Allison "Allie" Lowell. Curtin later starred in the hit series 3rd Rock from the Sun (1996–2001), playing the role of Dr. Mary Albright.

Justin Bartha

Justin Bartha

Justin Lee Bartha is an American actor, known for his roles as Riley Poole in the National Treasure film series, Doug Billings in The Hangover trilogy, and David Sawyer in the NBC comedy series The New Normal. He starred as Colin Morrello in the CBS All Access legal and political drama The Good Fight. In 2022, Bartha starred as Marshall Johnson in the critically acclaimed Atlanta standalone episode, Big Payback.

Chris Paul

Chris Paul

Christopher Emmanuel Paul, nicknamed "CP3" and "The Point God", is an American professional basketball player for the Phoenix Suns of the National Basketball Association (NBA). Widely regarded as one of the greatest point guards of all time, Paul has won the NBA Rookie of the Year Award, an NBA All-Star Game Most Valuable Player Award, two Olympic gold medals, and led the NBA in assists five times and steals a record six times. He has also been selected to twelve NBA All-Star teams, eleven All-NBA teams, and nine NBA All-Defensive teams. In 2021, he was selected to the NBA 75th Anniversary Team. He also served as the president of the National Basketball Players Association from 2013 to 2021. Among the highest-paid athletes in the world, he holds endorsement deals with companies such as Jordan Brand and State Farm.

DeAndre Jordan

DeAndre Jordan

Hyland DeAndre Jordan Jr. is an American professional basketball player for the Denver Nuggets of the National Basketball Association (NBA). He played one season of college basketball for the Texas A&M Aggies.

Kevin Love

Kevin Love

Kevin Wesley Love is an American professional basketball player for the Miami Heat of the National Basketball Association (NBA). He is a five-time All-Star and a two-time member of the All-NBA Second Team and won an NBA championship with the Cleveland Cavaliers in 2016. He was also a member of the gold medal-winning United States national team at the 2010 FIBA World Championship and the 2012 Summer Olympics. In 2011, Love won the NBA Most Improved Player Award and led the league in rebounding.

Kevin Garnett

Kevin Garnett

Kevin Maurice Garnett is an American former professional basketball player who played for 21 seasons in the National Basketball Association (NBA). Nicknamed KG by his initials, and the "Big Ticket" for his emphatic dunking and athleticism, Garnett is considered one of the greatest power forwards of all time, being known for his intensity, defensive ability, and versatility. As of 2020, he is one of five NBA players to have won both the NBA Most Valuable Player Award and the NBA Defensive Player of the Year Award.

Damian Lillard

Damian Lillard

Damian Lamonte Ollie Lillard Sr. is an American professional basketball player for the Portland Trail Blazers of the National Basketball Association (NBA). He played college basketball for the Weber State Wildcats and earned third-team All-American honors in 2012. After being selected by Portland with the sixth overall pick in the 2012 NBA draft, Lillard was unanimously voted the NBA Rookie of the Year. Nicknamed Dame Time for his history of making big shots in the clutch, he has received seven NBA All-Star and six All-NBA Team selections, the only player in Trail Blazers franchise history to do so. In October 2021, Lillard was honored as one of the league's greatest players of all time by being named to the NBA 75th Anniversary Team. He also won a gold medal on the 2020 U.S. Olympic team in Tokyo.

Halloween

Halloween

Halloween or Hallowe'en is a celebration observed in many countries on 31 October, the eve of the Western Christian feast of All Saints' Day. It begins the observance of Allhallowtide, the time in the liturgical year dedicated to remembering the dead, including saints (hallows), martyrs, and all the faithful departed.

Beekeeper

Beekeeper

A beekeeper is a person who keeps honey bees.

Controversies and viewpoints

Florida potential withdrawal

In early 2009, the State Farm Florida subsidiary, the state's largest insurer, offered to withdraw from writing property insurance business in Florida after state regulators refused to approve a 47% property rate increase. State Farm said that, in Florida, it had paid out US$1.21 in claims for every dollar in premiums since 2000. Several other home insurers had pulled out of Florida as well; many homeowners used the Citizens Property Insurance Corporation run by the state government.[38] State Farm has since decided to remain in Florida, although with a reduced amount of property policies.[39]

In 2010, State Farm and Renaissance jointly formed DaVinci Reinsurance Ltd. which insured more than 3.5 million homes in 2010.[40]

Criticism

A 2007 investigation by CNN reported that major car insurance companies, including State Farm and Allstate Insurance, were increasingly fighting claims of those alleging injury. Some injured parties argued these were unfair practices. State Farm and Allstate have denied these allegations.[41] This followed on the heels of criminal investigations by the states of Louisiana and Mississippi, alleging that State Farm had wrongly denied claims stemming from Hurricane Katrina.[42] Plaintiff's attorney Richard F "Dickie" Scruggs later pleaded guilty in March 2008[43] for his role in trying to pay Judge Henry Lackey of Mississippi a US$50,000 bribe for a favorable ruling in a related case involving a US$26.5 million settlement after Hurricane Katrina.[44]

Plaintiff lawsuits

In 1993, Todd Hindin filed a lawsuit against State Farm for allegedly keeping a list of prominent lawyers referred to within State Farm as the "Jewish Lawyers List". Any claims made by clients of these attorneys were automatically forwarded to State Farm's fraud unit, potentially on the basis of the religion and national origin of the lawyers. These claims would then be neither settled nor paid. State Farm initially claimed that this was not a matter of discrimination, but of coincidence. Frank Taylor, an experienced economist on retainer for the Appellants, argued that though the states involved contained 2-5% Jewish populations, the list contained 14% religiously or ethnically Jewish lawyers. People who had worked for State Farm, including former Divisional Claim Superintendent Ron Middler, testified that the list was potentially used to screen the lawyers mentioned in the list. State Farm paid out $30 million to Todd Hindin and his clients for discrimination on the basis of religion and national origin.[45]

Bad faith: Documents that Hindin uncovered would assist in another case in 2003, Campbell v. State Farm, in which State Farm had to pay out $145 million in punitive damages (later reduced by the U.S. Supreme Court) after acting in bad faith.[46] State Farm had to pay damages to the families of two car crash victims for whom Campbell was responsible, despite originally informing him and his family "that their assets were safe, that they had no liability for the accident, that [State Farm] would represent their interests, and that they did not need to procure separate counsel".[47]

Climate change

Under CEO Michael L. Tipsord, State Farm has announced a Green Mission to "lead by example" in environmental philanthropy.[48][49] Ceres has found that State Farm invests millions of US dollars to finance energy companies.[50] Others place State Farm's fossil fuel investments at US $22.4 million.[51] State Farm was viewed as not considering climate change in their investments.[52]

In order to rectify the situation and show its green credentials, State Farm has committed to reducing its greenhouse gas emissions by 50% by 2030.[53] 80% of State Farm facilities now have an Energy Star score of 75% or higher; this is significantly above the average for Fortune 50 companies. [54]

LGBT

On May 24, 2022, State Farm ended its partnership with GenderCool, an organization that seeks to raise awareness of "transgender and non-binary youth", after receiving backlash from right-wing and conservative political figures and media outlets.[55]

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Florida

Florida

Florida is a state in the Southeastern region of the United States, bordered to the west by the Gulf of Mexico; Alabama to the northwest; Georgia to the north; the Bahamas and Atlantic Ocean to the east; and the Straits of Florida and Cuba to the south. It is the only state that borders both the Gulf of Mexico and the Atlantic Ocean. With a population exceeding 21 million, it is the third-most populous state in the nation as of 2020. It spans 65,758 square miles (170,310 km2), ranking 22nd in area among the 50 states. The Miami metropolitan area, anchored by the cities of Miami, Fort Lauderdale, and West Palm Beach, is the state's largest metropolitan area with a population of 6.138 million, and the state's most-populous city is Jacksonville with a population of 949,611. Florida's other major population centers include Tampa Bay, Orlando, Cape Coral, and the state capital of Tallahassee.

Citizens Property Insurance Corporation

Citizens Property Insurance Corporation

Citizens Property Insurance Corporation (Citizens) was created in 2002 from the merger of two other entities to provide both windstorm coverage and general property insurance for home-owners who could not obtain insurance elsewhere. It was established by the Florida Legislature in Chapter 627.351(6) Florida Statutes as a not-for-profit insurer of last resort, headquartered in Tallahassee, Florida, and quickly became the largest insurer in the state. The company has no connection to Louisiana Citizens Property Insurance Corporation, the equivalent entity in Louisiana, or several similarly named "for-profit" subsidiaries in the Hanover Insurance Group.

CNN

CNN

CNN is a multinational news channel and website headquartered in Atlanta, Georgia, U.S. Founded in 1980 by American media proprietor Ted Turner and Reese Schonfeld as a 24-hour cable news channel, and presently owned by the Manhattan-based media conglomerate Warner Bros. Discovery (WBD), CNN was the first television channel to provide 24-hour news coverage and the first all-news television channel in the United States.

Allstate

Allstate

The Allstate Corporation is an American insurance company, headquartered in Northfield Township, Illinois, near Northbrook, since 1967. Founded in 1931 as part of Sears, Roebuck and Co., it was spun off in 1993, but was still partially owned by Sears until it became completely an independent company in June 1995. The company also has personal lines insurance operations in Canada.

Hurricane Katrina

Hurricane Katrina

Hurricane Katrina was a devastating Category 5 Atlantic hurricane that resulted in 1,392 fatalities and caused damage estimated between $97.4 billion to $145.5 billion in late August 2005, particularly in the city of New Orleans and its surrounding areas. At the time, it was the costliest tropical cyclone on record, tied now with Hurricane Harvey of 2017. Katrina was the twelfth tropical cyclone, the fifth hurricane, and the third major hurricane of the 2005 Atlantic hurricane season. It was also the fourth-most intense Atlantic hurricane on record to make landfall in the contiguous United States.

Richard Scruggs

Richard Scruggs

Richard F. "Dickie" Scruggs is an American former naval aviator and disbarred trial lawyer. He is the brother-in-law of former U.S. Senate Majority Leader Trent Lott. Scruggs first came to the public eye after successfully suing the asbestos industry on behalf of ill shipyard workers. He later represented the state of Mississippi in the tobacco litigation of the 1990s. He also represented hundreds of homeowners in lawsuits against insurance companies following Hurricane Katrina, and a national class action of patients against HMOs in the early 2000s.

Mississippi

Mississippi

Mississippi is a state in the Southeastern region of the United States, bordered to the north by Tennessee; to the east by Alabama; to the south by the Gulf of Mexico; to the southwest by Louisiana; and to the northwest by Arkansas. Mississippi's western boundary is largely defined by the Mississippi River. Mississippi is the 32nd largest and 35th-most populous of the 50 U.S. states and has the lowest per-capita income in the United States. Jackson is both the state's capital and largest city. Greater Jackson is the state's most populous metropolitan area, with a population of 591,978 in 2020.

State Farm Mutual Automobile Insurance Co. v. Campbell

State Farm Mutual Automobile Insurance Co. v. Campbell

State Farm Mutual Automobile Insurance Co. v. Campbell, 538 U.S. 408 (2003), was a case in which the United States Supreme Court held that the due process clause usually limits punitive damage awards to less than ten times the size of the compensatory damages awarded and that punitive damage awards of four times the compensatory damage award is "close to the line of constitutional impropriety".

Michael L. Tipsord

Michael L. Tipsord

Michael L. Tipsord is the chairman of the board of State Farm Insurance in Bloomington, Illinois. Tipsord replaced Edward B. Rust Jr. as chairman on September 1, 2015. State Farm is the 42nd largest company in the United States on the Fortune 500 and the country’s largest auto and home insurer.

Ceres (organization)

Ceres (organization)

Ceres is a non-profit sustainability advocacy organization based in Boston, Massachusetts and founded in 1989.

Transgender

Transgender

A transgender person is someone whose gender identity or gender expression does not correspond with their sex assigned at birth. Many experience gender dysphoria, which they seek to alleviate through transitioning, often adopting a different name and set of pronouns in the process. They may undergo sex reassignment therapies such as hormone therapy and sex reassignment surgery to more closely align their primary and secondary sex characteristics with their gender identity. Not all transgender people desire these treatments and others may be unable to access them for financial or medical reasons. Those who do desire to medically transition to another sex may identify as transsexual.

Non-binary gender

Non-binary gender

Non-binary and genderqueer are umbrella terms for gender identities that are not solely male or female‍—‌identities that are outside the gender binary. Non-binary identities fall under the transgender umbrella, since non-binary people typically identify with a gender that is different from their assigned sex, though some non-binary people do not consider themselves transgender.

Source: "State Farm", Wikipedia, Wikimedia Foundation, (2023, February 24th), https://en.wikipedia.org/wiki/State_Farm.

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Further Reading

Desjardins Group

Progressive Corporation

Allstate

Nationwide Mutual Insurance Company

American Family Insurance

Liberty Mutual

Erie Insurance Group

Wawanesa Insurance

Farmers Insurance Group

George J. Mecherle

Desjardins Insurance

Desjardins General Insurance

The Personal
See also
References
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