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Website: http://www.statefarm.com State Farm is one of the top insurance companies in the U.S. It is the nation's largest insurer of homes and insures one out of every five automobiles. It also insures more than 1 million pleasure boats. State Farm also offers banking services and mutual funds to customers. State Farm has over 78.8 million policies in force and 17,627 insurance agents. The company has 42.4 million auto insurance policies, 27.4 million property and casualty policies, 7.8 million life insurance policies and 1.2 million health insurance policies. Claims Offices: 343 State Farm claim offices serve policyholders companywide. There are more than 16,000 agent offices. Policy holders can also initiate the claim process online. Operations Centers: 30 operations centers in 13 zones have staffs that underwrite insurance policies, process claims, and oversee the companies business in their areas. In 2009, State Farm had total revenues of $61.5 billion, up slightly from $61.3 billion in 2008. The firm reported net income of $777 million in 2009. Combined net worth for the State Farm group increased in 2009 by $4.8 billion to end the year at $58.1 billion. The primary reason for the improvement was a $3.8 billion increase in the value of the property-casualty (P-C) companies’ unaffiliated stock portfolio (net of deferred tax). The increase comes after a $10.4 billion decrease in net worth a year ago. In spite of the 2008 decline, the State Farm group’s net worth is 27 percent higher than it was at the beginning of the decade. State Farm was founded in 1922 by George Mecherle, a farmer living in Bloomington, IL. Mecherle wanted to create a company that would offer auto insurance to farmers at better rates. State Farm is not publicly-traded but is a mutual insurance company owned by policy holders. Benefits State Farm has employees nationwide with 25 operations centers in 13 regional zones with staffs that underwrite insurance policies, process claims and oversee the business in their areas. Benefits include medical and dental insurance coverage, life insurance, accident insurance as well as 401 (k) and retirement plans. State Farm offers a competitive salary along with annual bonus potential and rewards for meeting business objectives. Full-time employees are eligible for paid vacation according to their years of service. The vacation year runs from June 1 through May 31. Employees with: 1-4 years of service get 10 vacations days; 5-14 years of service get 15 vacation days: 15-19 years get 20 days; 20-24 years get 25 days; and over 30 years of service earn 30 days a year. Other time off benefits include: - Seven paid holidays per year Updated March 18, 2010
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