State Farm Storm Claims in Hundreds of Thousands

State Farm says it has paid almost $1 billion on about 300,000 catastrophe claims from devastating storms across the central and southeastern United States over the past two months. Around 284,000 of the claims are from April storms that included tornadoes in the South. Recent storms in Missouri, Oklahoma and elsewhere had generated 11,000 new claims by the end of May.

State Farm said it averages about 800,000 catastrophe claims a year and pays out about $3.8 billion. Heavier claims can translate into losses for the company. State Farm said it lost $542 million in 2008. More than 1 million claims that year cost the company $6.3 billion.

Topics Claims Windstorm