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Farming out Insurance

State Farm Insurance has been around for more than 80 years and is still growing strong. Begun in 1922 by a farmer turned insurance sales rep and entrepreneur, the firm now offers financial services as well as numerous types of insurance throughout the United States. The founder of State Farm Insurance Companies is George J. Mecherle. The headquarters of the corporation is in Bloomington Illinois.

When State Farm was first created it was to be a mutual auto insurance firm that would be owned by the owners of its policies. Even though its name would suggest otherwise, State Farm Insurance was never planned as an insurance company to protect farm crops. The reason behind the name was that its initial focus was to sell automobile insurance to farmers. The former farmer Mecherle wanted to give the farmers financial assistance.

He thought that because these farmers were driving their automobiles less than other non-farmers and thus had fewer accidents and other financial losses from damage to their vehicles, they shouldn't have to pay as much for their insurance coverage as those who lived in the cities. State Farm Insurance was popular with the farmers and that made his new company successful.

Now State Farm Insurance has grown and offers other forms of insurance that include homeowners insurance, life insurance as well as financial and other banking services. State Farm Insurance now has nearly 80,000 employees, almost 17,000 of which are insurance agents. These State Farm Insurance workers service over 70 million insurance policies in the United States and in Canada.

State Farm Fire and Casualty Company is a major affiliate of State Farm Insurance.


Source:
http://en.wikipedia.org/wiki/State_Farm_Insurance
 

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