So State Farm lost $7 Billion on Personal Auto due to poor underwriting and then they paid out $3 billion on hail claims for property. Not a good year for the “good neighbor” people.
So obviously, you did not read the IJ article on the huge loss sustained by State Farm on Personal Auto. Andrew is going to be upset that you are calling him a liar. By the way, how is closing a number of offices and letting go or re-assigning employees good news?
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StorMonica, wasn’t that a great picture of Andrew on this story? Looked a lot like a Recreational guy, not a medicinal guy.
April 16, 2018 at 12:12 pm
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How is a big loss in 2017 old data? Sounds up to date to me. State Farm is having major problems with their underwriting and must be using the wrong modeling/algorithms. Apparently insuring too many texters while driving.
State Farm does not stand with there customers , had a car that someone put kersen, in the tank , comes under vandalism, State Farm refuses to pay the claim , i have had several friends to have different claims and they won’t pay , now i am left without a working car . That will sit in my drive way and rust , i have had State Farm insurance for about 25 years now . I will change insurance company now . They do not stand with the customer’s . I won’t stand with them .
I find this to be a very interesting chart particularly being from Missouri. It would be interesting to see the amount of property insurance premium written for each state to get an idea for loss ratios etc.
So State Farm lost $7 Billion on Personal Auto due to poor underwriting and then they paid out $3 billion on hail claims for property. Not a good year for the “good neighbor” people.
Your numbers are a little off. Might want to check the most recent State Farm financials. You know, the ones for 2017.
So obviously, you did not read the IJ article on the huge loss sustained by State Farm on Personal Auto. Andrew is going to be upset that you are calling him a liar. By the way, how is closing a number of offices and letting go or re-assigning employees good news?
1) okt0ber didn’t call anyone a liar, just said you were using old data
2) you didn’t link to any article or data to prove him wrong
3) he didn’t call andrew a liar, but even if he did, i think the post would have to stay up since your post saying Andrew was a recreational pot smoker is still there https://www.insurancejournal.com/news/national/2018/04/03/485190.htm/?comments
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StorMonica, wasn’t that a great picture of Andrew on this story? Looked a lot like a Recreational guy, not a medicinal guy.
How is a big loss in 2017 old data? Sounds up to date to me. State Farm is having major problems with their underwriting and must be using the wrong modeling/algorithms. Apparently insuring too many texters while driving.
and in other news……water is wet
State Farm does not stand with there customers , had a car that someone put kersen, in the tank , comes under vandalism, State Farm refuses to pay the claim , i have had several friends to have different claims and they won’t pay , now i am left without a working car . That will sit in my drive way and rust , i have had State Farm insurance for about 25 years now . I will change insurance company now . They do not stand with the customer’s . I won’t stand with them .
I find this to be a very interesting chart particularly being from Missouri. It would be interesting to see the amount of property insurance premium written for each state to get an idea for loss ratios etc.