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State Farm Says U.S. Catastrophe Claims $5B

 Monday, September 26, 2011

 Bloomberg

State Farm Mutual Automobile Insurance Co. said it has paid $5 billion this year to repair, rebuild and replace property damaged by flooding, tornadoes and wildfires in the U.S., in what it expects to be one of its busiest years. Policyholders have filed more than 970,000 catastrophe claims, the company said in a statement today. The claims don’t include the 11 to 12 million routine auto, home and business ones it receives each year, the Bloomington, Illinois-based insurer said.
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