FRANKFORT, Ky. (November 29, 2023) – Attorney General Daniel Cameron today announced a $1.35 million dollar settlement with State Farm Mutual Automobile Insurance Company (State Farm).
“This settlement with State Farm provides us confidence in State Farm in its role as an important insurer in the Commonwealth,” said Attorney General Cameron. “I’m grateful to State Farm for working with us to come to a fair resolution and for taking concrete steps to ensure something like this does not happen again.”
The agreement settles allegations that State Farm failed to adequately identify and disclose to some Kentucky customers uninsured and underinsured coverages available under their automobile insurance policies. As part of the settlement, Kentucky will receive $1,350,000 in a lump sum payment as reimbursement for the costs of its investigation.
In addition, State Farm has strengthened its notification policies, trained staff on revised claim procedures and implemented a database search tool to identify available coverages under household automobile insurance policies. State Farm will also use its best efforts to begin the process in 2025 to provide multi-car policies in Kentucky. The settlement is not an admission of liability or wrongdoing on State Farm’s part.
To read a copy of today’s settlement, click here.