Statement From State Farm
POSTED: 3:59 pm EDT July 5, 2007
The following is a statement from State Farm regarding a Call 6 for Help story that aired July 5:"We understand the Department of Insurance has an obligation to ensure the insurance industry is engaging in fair claims practices such as fair and prompt investigations of claims. In fact we regularly conduct our own quality assurance review on claims files. From the beginning, we have been in continual and direct contact with the Department of Insurance to be certain we are complying with Indiana law. "State Farm also released the following information about claims related to the April 14, 2006, hail storm that the insurer has received through July 5, 2007:1,327 arbitration letters have been sent. Of those, 932 letters have been received back requesting arbitration So far, 635 engineer reports have been received. To date, 91 (about 14 percent) have indicated hail damage significant enough to warrant roof replacement. Of the more than 49,100 claims State Farm has received from this storm, nearly 98 percent have been closed. More than $251 million has been paid out to date. The anticipated total payout will likely exceed $260 million. Approximately 377 official complaints have been made -- which is less than 1 percent of the claims received.
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