State Farm Pay $5B to Cover Weather Damages
The company did not provide a comparable figure for the year-ago period.
Through Sept. 23, State Farm has receive more than 970,000 catastrophe claims, stretching from wildfires in western Texas to storm damage in Maine. The company’s catastrophe claims work is in addition to the 11 million to 12 million other auto, home and business claims reported to the company in a typical year.
Earlier this month, Allstate Corp said it had lost $500 million on Hurricane Irene, much less than the $2 billion it lost from severe thunderstorms and tornadoes during April and May.
(Reporting by Matt Daily in New York; Editing by Maureen Bavdek)