State Farm
Type	Mutual (main company)
Founded	1922-06-07[1]
Founder	George J. Mecherle
Headquarters	Bloomington, Illinois, USA
No. Mutual insurance is a type of Insurance where those protected by the insurance (policyholders also have certain "ownership" rights in the organization. Year 1922 ( MCMXXII) was a Common year starting on Sunday of the Gregorian calendar. Events 1099 - The First Crusade: The Siege of Jerusalem begins An entrepreneur is a person who has possession over a company enterprise, or Venture, and assumes significant accountability for the inherent risks and the outcome George Jacob "GJ" Mecherle (pronounced "Ma-herl" (born June 7, 1877) was the founder of State Farm Insurance, headquartered in Bloomington is a city in McLean County, Illinois, United States and the County seat. The United States of America —commonly referred to as the  of locations	17,000 agents 391 claim offices 24 operations centers[2]
Area served	USA and Canada
Key people	Edward B. Rust, Jr. (Chairman/CEO)
Industry	Finance and Insurance
Services	Insurance, Banking, Investing
Revenue	US$61,611 million (2007) ▲1. A claim is a legal action to obtain money property or the enforcement of a right against another party The United States of America —commonly referred to as the Country to "Dominion of Canada" or "Canadian Federation" or anything else please read the Talk Page Edward B Rust Jr is chairman of the board and Chief executive officer of State Farm Mutual Automobile Insurance Company Bloomington Illinois. A chief executive officer ( CEO) or chief executive is typically the highest-ranking corporate officer ( executive) or administrator For other uses of this term see Industry (disambiguation An industry (from Latin industrius, "diligent industrious" A service is the non-material equivalent of a good. A service provision is an economic activity that does not result in Ownership, and this is what differentiates In business revenue or revenues is Income that a company receives from its normal business activities usually from the sale of goods and services The United States dollar ( sign: $; code: USD) is the unit of Currency of the United States; it has also been 8%[3]
Net income	US$3,664 million (2007) ▲US$687 million[4]
Total assets	US$104,842 million (2007) ▲US$6,494 million[4]
Total equity	US$58,142 million (2006)[5]
Employees	68,000[2]
Divisions	Insurance; mutual funds; State Farm Bank
Subsidiaries	see Companies below
Website	www.statefarm.com

State Farm Insurance "Fire Building" in downtown Bloomington, Illinois. Net income is equal to the Income that a firm has after subtracting costs and Expenses from the total Revenue. The United States dollar ( sign: $; code: USD) is the unit of Currency of the United States; it has also been In Business and Accounting, assets are everything owned by a person or company (all tangible and intangible property that can be converted into cash. The United States dollar ( sign: $; code: USD) is the unit of Currency of the United States; it has also been In accounting terms after all liabilities are paid ownership equity is the remaining interest in Assets If valuations placed on assets do not exceed liabilities The United States dollar ( sign: $; code: USD) is the unit of Currency of the United States; it has also been Employment is a Contract between two parties, one being the employer and the other being the employee. A division of a business entity is a portion of that business that operates under a different name Insurance, in Law and Economics, is a form of Risk management primarily used to hedge against the Risk of a contingent loss A mutual fund is a professionally managed type of collective investments that pools money from many investors and Invests it in Stocks bonds, A subsidiary, in business matters is an entity that is controlled by a bigger and more powerful entity A website (alternatively web site or Web site, a back-construction from the Proper noun World Wide Web) is a collection of Web pages

State Farm is a group of insurance and financial services companies. Insurance, in Law and Economics, is a form of Risk management primarily used to hedge against the Risk of a contingent loss Financial services refer to services provided by the finance industry. State Farm has remained the largest automobile insurer in the United States continuously since 1942^[1] and insures more cars and homes in the United States than any other insurer. Vehicle insurance (also known as auto insurance, car insurance, or motor insurance) is Insurance purchased for cars, Trucks ^[2]

The group's main company is State Farm Mutual Automobile Insurance Company, a mutual insurance firm that also owns the other State Farm companies. Mutual insurance is a type of Insurance where those protected by the insurance (policyholders also have certain "ownership" rights in the organization. The corporate headquarters are in Bloomington, Illinois. Bloomington is a city in McLean County, Illinois, United States and the County seat. The State of Illinois ( roughly ill-i-NOY is a state of the United States of America, the 21st to be admitted to the Union.

State Farm is ranked 32nd in the 2008 Fortune 500, which lists American companies by revenue. Please do not add the complete list of fortune 500 companies The list is copyrighted by Fortune which makes money by selling the content ^[3] According to the Fortune Global 500, State Farm is also the world's largest mutual "P&C" (property & casualty insurance) firm; the only other P&C mutual in the Global 500 is Groupama in Europe. The Fortune Global 500 is a ranking of the top 500 Corporations worldwide as measured by Revenue. Property insurance provides protection against most risks to Property, such as fire theft and some weather damage Casualty insurance policies are written to cover loss that is the direct result of Accident. Groupama contraction of GROUPe des Assurances Mutuelles Agricoles (french for Group of Mutual Agricultural Insurances) is an international insurance group based in ^[5]

History

State Farm was founded in 1922 as a mutual automobile insurance company owned by its policyholders. Year 1922 ( MCMXXII) was a Common year starting on Sunday of the Gregorian calendar. A mutual, mutual organization, or mutual society is an Organization (which is often but not always a company or Business) based Despite the company's name, State Farm did not initially begin as a crop insurance company. Specifically, State Farm specialized in auto insurance for farmers. Founder George J. Mecherle believed that since farmers drove less and had fewer losses than city drivers, they should pay less for insurance. George Jacob "GJ" Mecherle (pronounced "Ma-herl" (born June 7, 1877) was the founder of State Farm Insurance, headquartered in His idea was popular with farmers and made his new company successful. Since its inception, State Farm has expanded its services into other popular types of insurance, such as homeowners and life insurance, in addition to banking and financial services. ^[1]

State Farm has grown to include 67,000 employees and 17,000 agents servicing 77 million policies in the United States and Canada, and serving more than 1. 9 million bank accounts. ^[2]

Edward B. Rust, Jr. is chairman of the board and chief executive officer of State Farm Mutual Automobile Insurance Company, and president and chief executive officer of State Farm Fire and Casualty Company, State Farm Life Insurance Company, and other principal State Farm affiliates. Edward B Rust Jr is chairman of the board and Chief executive officer of State Farm Mutual Automobile Insurance Company Bloomington Illinois. A chief executive officer ( CEO) or chief executive is typically the highest-ranking corporate officer ( executive) or administrator

On March 1, 2007, State Farm Mutual Automobile Insurance Company announced it will pay $1. 25 billion in dividends to its mutual auto insurance policyholders in 46 states, the District of Columbia and the Canadian province of New Brunswick. ^[6]

Companies

State Farm Mutual Automobile Insurance Company also owns the other State Farm Companies:^[1]

• State Farm Fire and Casualty Company
• State Farm Life Insurance Company
• State Farm Life and Accident Assurance Company (NY/CT/WI)
• State Farm County Mutual Insurance Company of Texas (TX auto)
• State Farm Indemnity Company / State Farm Guaranty Insurance Company (NJ auto)
• State Farm General Insurance Company (CA home)
• State Farm Florida Insurance Company (FL home)
• State Farm Lloyds (TX home/commercial)
• State Farm Bank, F. New York ( is a state in the Mid-Atlantic and Northeastern regions of the United States and is the nation's third most populous Connecticut ( is a state located in the New England region of the northeastern United States of America. Wisconsin ( or wɪˈskɑnsɨn (French Ouisconsin) is one of the fifty United States of America, located in the north central part of the United States Texas ( is a state geographically located in the South Central United States and is also known as the Lone Star State. New Jersey ( is a state in the Mid-Atlantic and Northeastern regions of the United States. California ( is a US state on the West Coast of the United States, along the Pacific Ocean. Florida ( is a state located in the southeastern region of the United States, bordering Alabama to the northwest and Georgia to the Texas ( is a state geographically located in the South Central United States and is also known as the Lone Star State. S. B.
• State Farm Investment Management Corp. (SFIMC)
• State Farm VP Management Corp. (SFVPMC)

CEOs

Financial services

In recent years, State Farm has expanded into the financial services arena, such as banking and mutual funds. Year 1970 ( MCMLXX) was a Common year starting on Thursday (link shows full calendar of the Gregorian calendar. Year 1985 ( MCMLXXXV) was a Common year starting on Tuesday (link displays 1985 Gregorian calendar) Edward B Rust Jr is chairman of the board and Chief executive officer of State Farm Mutual Automobile Insurance Company Bloomington Illinois. Year 1985 ( MCMLXXXV) was a Common year starting on Tuesday (link displays 1985 Gregorian calendar) These are separate from its insurance products. This has expanded its competition beyond the traditional P&C insurance companies like GEICO, Progressive, Farmers Insurance Group, and USAA to include competition with leading banks and investment companies like Bank of America, Citi, JP Morgan Chase, Wells Fargo, Fidelity Investments, Charles Schwab, and E*TRADE. The Government Employees Insurance Company, usually known by the Acronym GEICO, is an American Auto insurance company The Progressive Corporation (PGR Progressive Casualty Insurance Company through its subsidiaries provides personal Automobile insurance, and other specialty property-casualty Farmers Insurance Group is a provider of Insurance management services and a Holding company. United Services Automobile Association ( USAA) is a Fortune 500 Banc of America Securities Bank of America () is the largest bank by asset and second largest commercial Bank by deposits and Market capitalization in United JPMorgan Chase & Co ( is the largest Banking institution in the United States by deposits and market capitalization and is one of the oldest operating Wells Fargo & Co ( is a diversified Financial services company headquartered in San Francisco California, United States with operations around the Fidelity Investments is a provider of investment products and services E*TRADE FINANCIAL Corporation ( is a Financial services company based in New York NY United States

Criticism

A recent investigation by CNN reported that major car insurance companies, including State Farm and Allstate Insurance, are increasingly fighting claims from those injured by their insured members. In some cases the settlement proposed amounts to just $50 or the threat that any lawsuit would be made so expensive and time-consuming that it wouldn't be worth the victim's time. State Farm and Allstate have denied these allegations. ^[7]

Competition

Major insurance competitors include Allstate, American Family Insurance, Farmers Insurance Group, Nationwide, Progressive, GEICO, and USAA. The Allstate Corporation is the largest publicly held personal lines insurer in the United States and the second-largest of all personal lines insurers in the American Family Insurance (aka AmFam) is a private Mutual company which focuses on property, casualty and Auto insurance, but also Farmers Insurance Group is a provider of Insurance management services and a Holding company. Nationwide Mutual Insurance Company & Affiliated Companies is a group of large U The Progressive Corporation (PGR Progressive Casualty Insurance Company through its subsidiaries provides personal Automobile insurance, and other specialty property-casualty The Government Employees Insurance Company, usually known by the Acronym GEICO, is an American Auto insurance company United Services Automobile Association ( USAA) is a Fortune 500

Trivia

• State Farm's well-known jingle ("Like a good neighbor, State Farm is there") is just the tag ending on a full-length song. The song was written by then-soon-to-be-famous American songwriter Barry Manilow in 1971. Barry Manilow (born June 17, 1943) is an American Singer-songwriter, Musician, arranger, producer and conductor ^[8]
• The narrator for the State Farm advertisements is Patrick Dempsey
• State Farm's internal newsletter is called the ALFI, which stands for "Auto, Life, Fire Insurance"
• As of the year 2005, State Farm is insuring about 40 million vehicles. Patrick Galen Dempsey (born January 13, 1966) is a Golden Globe Award -nominated American actor who first became prominent in ^[9] Relatively speaking, the vehicles lined up bumper-to-bumper would encircle the planet Earth four and a half times. That is also roughly 112,500 miles.

References

External links

• State Farm — main official website
  • State Farm Bank — official website
  • State Farm's Youth Advisory Board — official website
• State Farm's University of Illinois Research Center