$1.25 billion
Amount State Farm Mutual Automobile Insurance Co. announced it would be issuing in dividends to policyholders in 46 states, the District of Columbia and Canadian province of New Brunswick. The company said better-than-expected auto results combined with a $4.1 billion reduction in catastrophe losses in 2006 resulted in an increase in net income. State Farm does not plan to pay dividends when setting prices, but its board of directors can do so when financial results are better than anticipated and business conditions permit, the company said.
3
Number of midsize cars that sustained less than $1,500 in repairs during bumper tests of vehicles, according to a report by the Insurance Institute for Highway Safety. The Institute found that most bumpers on midsize cars do little to prevent costly damage to vehicles, even in low-speed crashes of up to 6 miles per hour. The crashes frequently occur in parking lots and in commuter traffic.
$3.94 billion to $5.25 billion
Industry loss estimate Newark, Calif.-based Risk Management Solutions will result from the windstorm Kyrill, which caused relatively low levels of damage over a large area covering nine major European countries on Thursday, Jan. 18, 2007. RMS continues to collate damage and loss information.
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