State Farm Insurance is a group of insurance and financial services companies. It is the largest automobile insurer in the United States continuously since 1942 and insures more cars and homes in the United States than any other insurer. The company also has operations in Canada.
The group's main business is State Farm Mutual Automobile Insurance Company, a mutual insurance firm that also owns the other State Farm companies. The corporate headquarters are in Bloomington, Illinois.
State Farm is ranked 31st in the 2009 Fortune 500, which lists American companies by revenue. According to the Fortune Global 500, State Farm is also the world's largest mutual property & casualty insurance firm. In October 2008, State Farm Insurance Companies in Canada was named one of Greater Toronto's Top Employers by Mediacorp Canada Inc., which was announced by the Toronto Star newspaper.
Lawsuits Brought Against the State Farm Insurance Company
Have you been involved in an accident where either you or the at-fault has been insured by State Farm Insurance? In order to achieve a financially favorable settlement or court result, it is important to research how other people and organizations have successfully navigated an insurance claim or settlement with specific insurance companies. This helps you avoid making the same mistakes others have made. It can provide insight as to which actions might affect the value of your settlement. It also helps highlight pivotal legal strategies and avenues that have helped win lawsuits against major insurance companies such as State Farm Insurance.
Insurance companies are notorious for delaying the release of settlement funds at all costs. The practice exists in an extremely high percentage of insurance companies. It is designed as both a money saving and a money making technique. Major insurance companies usually have tens of billions of dollars on their books, which they invest in order to amplify their profits. Even if they have to pay a settlement, they will hold the money as long as legally possible in a leveraged effort to increase their own profits.
In addition to delaying the disbursement of settlement funds, insurance companies deploy many of the following techniques to save costs:
- Nickel and dime smaller individual clients with various charges with the knowledge they cannot afford to investigate their legal options.
- Present clients with a very small initial settlement offer, as many policy holders do not realize they do not have to accept the insurance company’s first offer.
- Wait until the last possible week to disperse funds, as some negotiations can last well over a year.
If you have sustained personal injuries that will be permanent, it is important to use an expert trial attorney.
Examples of Claims Against State Farm Insurance:
Dateline investigates State Farm Insurance Company and its little-known practice of "paper review." (View Full Article – Davis Law Group)
How Allstate and State Farm are maximizing their profits by utilizing hard-ball litigation tactics. (View Full Article – Davis Law Group)
Accident Report: SE 208th Street, Pedestrian Hit (View Full Article – Davis Law Group)