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State Farm: Hurricane Katrina Claims Top 200,000

Posted on: Thursday, 8 September 2005, 15:00 CDT

BLOOMINGTON, Ill., Sept. 8 /PRNewswire/ -- State Farm(R) is responding to the devastating impact Hurricane Katrina has made on the Gulf Coast. Despite a number of challenges including the availability of lodging and communication infrastructure, State Farm adjusters are in affected communities, meeting our customers and helping them begin to recover. State Farm is the largest insurer of homes and cars in the Gulf States.

Claims Operations

As a result of contact with our policyholders, State Farm is servicing more than 223,000 property claims in Alabama, Louisiana, Mississippi and Florida as of Sept. 7. This number is expected to rise as our catastrophe claims adjusters, local claims staff and agents continue to meet and talk with customers.

Nearly 2,600 dedicated catastrophe claims adjusters are joining the more than 3,000 State Farm employees, agents and agents' staff who live and work in the Gulf States, and who are already assisting customers recovering from Hurricane Katrina.

Given the unique circumstances presented by the unprecedented impact of the storm, State Farm is implementing unique solutions to help our customers recover.

Reaching Those Who Need Help

It is important to note that just as the ability to report a claim is difficult in the most severely impacted areas; there are many of our policyholders who have evacuated and are not yet able to return. Given that reality, State Farm is proceeding with our claim operation somewhat differently than in the past. We are utilizing our vast agency and claims network, locations and technological resources to serve our customers as best we can, wherever they may be.

State Farm representatives are in the impacted neighborhoods and evacuee shelters seeking out customers who need to report their losses. If customers are able, they can get the claims process started by contacting their agent, or any State Farm agent, either by phone or in person. If they are unable to reach their agent, State Farm also has phone representatives in several states standing by to take claim reports from customers who can call 1-800-SF-CLAIM (732-5246) - already we've received 126,000 calls to this number. Customers can also begin the claim process by visiting statefarm.com. Once in the system, customers will be provided with more information on the next steps in the process. Adjusters will be assigned and follow-up contact initiated on location or by phone, starting with policyholders most severely impacted.

Also supporting this process are 29 dedicated catastrophe offices in the storm-impacted region. These include mobile facilities in Louisiana and Mississippi that have satellite connectivity and office space. These facilities will provide a presence and point of contact for those remaining in the affected areas as well as provide support for State Farm claim adjusters as they visit claim sites.

Further, we're working with our 17,000 agents across the U.S. and Canada to assist and reach out to our affected policyholders relocated across the country, to offer resources for their immediate needs. State Farm's agents have established a "buddy system." Agents across the country are helping agents in Louisiana, Mississippi, Alabama and Florida by visiting evacuee locations to assist policyholders from those impacted states who have been relocated. This is especially true in areas like Texas where large numbers of hurricane victims have been evacuated.

Other Customer Assistance

On August 31, State Farm voluntarily suspended policy billing and cancellation notices to customers in areas hardest hit by Hurricane Katrina. We will be working with local regulators to determine "next steps" in this area.

State Farm Bank(R) is also extending assistance to its clients facing hardships created by the hurricane. Among the possible assistance options available, and based on individual circumstances, the Bank may waive late fees and defer payment with no interest on State Farm credit card accounts, defer loan payments on existing loans, and provide access to funds in non-mature CDs with no penalty for early withdrawal. Customers should contact their agent, or call the Bank Response Center at 1-877-734-2265, to discuss which options may be available to them. The Bank is also expediting processing for new customer credit card account applications and home equity and vehicle loan applications.

Customers with other State Farm financial services products, like mutual funds and variable products, who were affected by Hurricane Katrina, may also be extended special access and redemption options.

State Farm(R) insures more cars than any other insurer in North America and is the leading U.S. home insurer. State Farm's 17,000 agents and 69,000 employees serve nearly 73 million auto, fire, life and health policies in the United States and Canada. State Farm also offers financial services products through State Farm Bank(R). State Farm Mutual Automobile Insurance Company is the parent of the State Farm family of companies. State Farm is ranked No.19 on the Fortune 500 list of largest companies. For more information, please visit statefarm.com(R) or in Canada statefarm.ca(TM).

State Farm Bank(R), Bloomington, Illinois, is a Member FDIC and an Equal Housing Lender. Insurance, annuities and securities products are not FDIC insured, are not guaranteed by State Farm Bank, and are subject to investment risk, including possible loss of principal. Securities through registered representatives of State Farm VP Management Corp., 1-800-447-4930 (Mutual Funds) or 1-888-702-2307 (Variable Products). State Farm VP Management Corp. is a separate entity from those State Farm entities which provide banking and insurance products.

State Farm

CONTACT: National Media Contact, Phil Supple, phone: +1-309-766-9921,pager: +1-888-417-5087; or Alabama, Mississippi Contact, Myles Mitchom,phone: +1-770-367-5379, work phone: +1-770-418-5012; or Louisana Contact,Rosemary Travis, phone: +1-918-361-7553, all of State Farm

Web site: http://www.statefarm.com/

Source: PRNewswire

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