Lightning insurance claims were highest in these 5 states last year

Lightning insurance

About 9,000 customers filed for this type of damage with State Farm last year, for a total of $107 million. Last year, State Farm paid almost 9,000 lightning insurance claims to homeowners’ policyholders, who received a total of about $107 million to repair the damages caused. Some states have seen substantially more claims of this nature than others across the country. According to State Farm, the states that experienced the most lightning insurance claims were:  Texas, with $7.7 million in total claims. Georgia, with $7.3 million in total claims. California,…

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State Farm boosts insurance agent training and catastrophe research

Insurance agent - Training

Climate change is changing the nature of natural disasters and the insurer aims to keep ahead of it. As climate change changes the nature of storm damage, and as technology continues to progress, State Farm has invested into advanced catastrophe research and insurance agent training. The insurer wants to make sure its tech and teams are prepared for current and upcoming trends. State Farm is using the additional insurance agent training and catastrophe research to help keep ahead of the impact of climate change for more rapid claim handling, quicker…

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State Farm releases insurance company Environmental, Social and Governance Report

Insurance company - Report from business

The second report the insurer has released updates greenhouse gas reductions and sustainability efforts. State Farm has announced the release of its 2021 Environmental, Social and Governance Report, updating the insurance company’s sustainability efforts and greenhouse gas reductions. The report based on last year’s data is intended to be an illustration of the insurer’s efforts. The insurance company’s commitment to “Good Neighbors. Better World.” was outlined in the second report of its nature. The report outlined the insurer’s ESG framework and its progress on environmental sustainability, as well as social…

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Auto insurance company points to vehicle mileage for fraud detection

Auto Insurance - ODO Fraud

State Farm underscored the importance of spotting odometer fraud when purchasing a used car. Although the majority of vehicle fraud headlines point to the theft of catalytic converters, but the State Farm auto insurance company showed that odometer fraud is also an important issue to keep in mind. Though this type of fraud is tougher to spot, there are a number of strategies that can be used to find it. State Farm published a news release to help people to spot odometer tampering while considering a used vehicle for purchase.…

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These states generate the most hurricane insurance claims in the US

Hurricane insurance claims

State Farm released a list of the locations where the severe storms cause the most covered damage. State Farm received 119,000 hurricane insurance claims last year, and they all came from policyholders that had covered properties in 9 states. There was a total of approximately $1.2 billion in claims paid out to the affected policyholders. The hurricane insurance claims were paid for the repair and rebuilding of homes damaged by the storms. The State Farm data from last year include the storms called Henri, Nicholas, and Ida. They impacted 9…

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