Another insurance company has released their report of estimated losses from the April tornado outbreak. State Auto Financial Corp. is estimating between 75 and 85 million in catastrophe losses as a result of more than 15 thousand claims.
This is around 30 million dollars higher than their average five year catastrophe losses of 50 million. Twenty of State Auto’s operating states were affected by five different disasters last month. Claims for property damage and vehicle damage from tornados and storms that produced large hail and high winds.
State Auto Financial Corp. is based in Ohio and was started in 1921 by Robert Pein. One man, frustrated by the way insurance companies were operating and treating their customers, decided to make a change. Pein focused on delivering professional and personalized service through the independent agency.
Robert Pein was unwavering in making sure his company served the needs of the community, and not the needs of big insurance executives. That is the foundation he built the company on, and today more than two thousand associates market State Auto products through over 23 thousand independent agents in 33 states.
State Auto’s group assets total more than 3.2 billion dollars and A.M. Best rates them with a superior A+ rating. The State Auto Group consists of 14 companies that include State Automobile Mutual, State Auto Property and Casualty, State Auto National, State Auto Ohio, Wisconsin and Florida and Beacon Lloyds, as well as seven additional companies.
State Auto also writes specialty insurance and workers’ compensation products through its Rockhill insurance subsidiaries. Its Rockhill subsidiaries are rated as Excellent by A.M Best Company. State Auto also works through a third party administrator (National Flood Services) to offer consumers federally backed flood insurance coverage.