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Campbell proceeded to file suit against State Farm for bad faith, fraud, and intentional infliction of emotional distress. The Utah Supreme Court reinstated a $145 million punitive verdict against State Farm, [61] making note that an earlier $100 million judgment was unreported to State Farm's corporate headquarters. The regional vice president ...
In 1820, there were 17 stock life insurance companies in the state of New York, many of which would subsequently fail. Between 1870 and 1872, 33 US life insurance companies failed, in part fueled by bad practices and incidents such as the Great Chicago Fire of 1871. 3,800 property-liability and 2,270 life insurance companies were operating in ...
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State Farm's historian claims that "90% of Mecherle's original material is still in the office." [ 7 ] Inside the office are sales receipts dating to 1936 and guest book entries from 1945. Though the office is not open to the public, the company uses it to impart knowledge of the company's past to new employees.
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Terry McNeil, an insurance expert and president and CEO of T.D. McNeil Insurance Services, said State Farm will likely try to do right by its customers but it is already strained in the state.
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