Company Overview of State Farm Fire and Casualty Company
State Farm Fire and Casualty Company provides insurance solutions for homeowners, boat owners, and commercial lines in the United States. The company offers insurance cover for boats, motors, and boat trailers, as well as cover for boat equipment against loss and damage from sinking, fire, storms, theft, capsizing, stranding, collision, and explosion. Its insurance products also cover the equipment permanently attached to the boat, anchors, oars, electric trolling motors, extra fuel tanks, tools, detachable canopies, seat cushions, life preservers, skis and their tow ropes, and dinghies. The company was founded in 1935 and is based in Bloomington, Illinois. State Farm Fire and Casualty Compa...
One State Farm Plaza
Bloomington, IL 61710-0001
Founded in 1935
Key Executives for State Farm Fire and Casualty Company
Chief Executive Officer and President
Compensation as of Fiscal Year 2014.
State Farm Fire and Casualty Company Key Developments
Stafford Unlimited L.L.C. and Christopher Baione Sue State Farm for Failure to Pay Dog Attack Judgment
Mar 3 14
State Farm Fire and Casualty Co. is the defendant in a lawsuit that alleged it failed to pay a judgment in a dog attack case. State Farm's insured owned a pit bull that attacked a specially trained 'bed bug detection' dog owned by plaintiffs Stafford Unlimited L.L.C. and Christopher Baione. The plaintiffs filed suit and notified State Farm, which failed to provide a defense under the homeowners' policy. A judgment was entered against the insured and the plaintiffs were awarded $261,907. Baione now seeks recovery of that amount plus $100,000 in punitive damages from State Farm. State Farm removed the lawsuit to the U.S. District Court for the Eastern District of New York.
State Farm Fire and Casualty Company Appeals Katrina Fraud Ruling
May 9 13
State Farm Fire and Casualty Co. has asked a judge to void a jury's finding that the company defrauded the government involving a policyholder claim after Hurricane Katrina. Motions filed in U.S. District Court in Gulfport, Miss., also seek a new trial. The verdict came in April in a whistleblower lawsuit against the Illinois- based insurer. The lawsuit was filed by Cori and Kerri Rigsby of Ocean Springs, Miss., who once worked for Alabama-based E.A. Renfroe, a company State Farm contracted to provide damage assessments after the August 2005 hurricane. The jury found State Farm avoided covering a policyholder's wind losses by blaming damage on storm surge, which is covered by federal flood insurance. State Farm was ordered to repay $250,000 to the government. Other damages are to be determined.
Court Upholds $14.5 Million Defamation Verdict against State Farm Fire and Casualty Company
Apr 15 13
An Indiana appeals court is upholding a $14.5 million verdict against State Farm Fire and Casualty Company for defaming a contractor following a massive 2006 hailstorm that brought in nearly 50,000 claims for State Farm. State Farm wanted the appeals court to overturn the verdict arguing communications the company's fraud investigators had with authorities were privileged because they were made in the public interest, and that those communications were protected by statutory immunity because they were made in good faith. The company also claimed the contracting company, owned by Joseph Radcliff, failed to prove the defamation was motivated by actual malice. However, the court rejected all of State Farm's appeals and upheld the verdict, which is among the largest defamation verdicts in U.S. history. The company's fraud investigation, which was ultimately turned over to the National Insurance Crime Bureau and then Indianapolis Metropolitan Police Department, led to Radcliff's arrest on charges of insurance fraud, corrupt business influence, criminal mischief, and attempted theft. The charges were eventually dismissed and Radcliff's company closed because of the negative attention from the arrest. State Farm also sued Radcliff for fraud and racketeering and Radcliff counterclaimed for defamation, among other things. The appeals court also found the verdict, by far the largest defamation verdict ever in Indiana, was not excessive.
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