State Farm joins other major insurers in reporting significant spring storm losses

Claim representatives from State Farm have announced that as a result of the devastating storms that occurred in April and May of this year, the insurer paid out almost $1.75 billion to its customers. In under three weeks’ time, the total claim payments made by State Farm have come close to doubling. This announcement closely follows that of the largest publicly traded American home and auto insurer, Allstate Corp., which reported its April and May losses at about $2 billion after the severe thunderstorms and tornados in those months alone…

Read More