Farmers Insurance Group is financially strong. We didn't get caught up in the "real estate frenzy" or risky financial investments. Our investments are conservative and highly rated. In fact, our financial ratings were recently upgraded, in a time when many are seeing their ratings downgraded. As a result, we will be here to support you and protect your clients.
Our strong financial position allowed us to acquire the Personal Auto Business of AIG in mid 2009. This is good for Farmers, for AIG, and good for the American taxpayer. The $1.9 Billion acquisiton demonstrates Farmers position as a leader in growth and innovation in the insurance industry.
Below is a TV commercial we recently ran that addresses our financial strength:
We celebrated our 82nd Birthday in March. Even before the AIG acquisition, we were one of the largest and most respected insurance companies in America. We operate in 41 States, with 18,000 employees and over 15,000 Agents serving over 17 million customers. Even with our size, the third largest personal lines property and casualty company in America, Farmers continues to be one of the fastest growing insurance companies in the country.
In Utah, we are the second largest personal lines property and casualty company. We insure over 240,000 cars, 162,000 homes, and 5,700 businesses, while providing Life insurance to over 26,000 households. Last year, we paid out over $151 million in claims in Utah, while paying more than $8,2 million in taxes and fees. We also invested $14.57 million in municipal bonds and mortage loans in Utah, money that is used to build schools, highways, and other civic projects.
Through the Farmers Group of Companies, we offer our clients a full range of insurance products, including:
Auto
Business Insurance
Homeowners/Renters
Workers Compensation
Earthquake
Life Insurance
Flood
Annuities
Recreational Vehicles & Toys
Disability
Your clients work hard for what they have. You will help them protect their assets from physical damage, and from lawsuits.
In addition to having the best Agency force in the business, Farmers has unmatched Claims Service. Through our HelpPoint Claims service, we offer 24/7 assistance to our clients. Our slogan is to “Get you back where you belong”, and that’s exactly the goal of every person in our Claims department. HelpPoint has been recognized by J.D. Powers for industry leading quality.
Our response to recent fires in southern California has been held up by the California Department of Insurance as a standard for other Companies to aspire to. Farmers was first-on-site to provide claims service to our clients, and to provide food, water, information, and technology access to anyone, regardless of their insurance company.
We also distinguished ourselves following Hurricane Ike, in Texas. Again, we were first on site, and despite the magnitude of the damage, we settled 90% of the claims from Farmers clients in 30 days. Many other insurance companies were still getting organzied after 30 days.
Farmers is a leader in Community Involvement. We have partnered with the March of Dimes, and are one of their largest corporate sponsors. Through Corporate contributions, Agent donations and client participation, we raised $2.8 million on June 7, 2007, then exceeded that by raising $3.2 million on June 3, 2008. We set another record July 22, 2009 by raising $4.1 million. We just held this year's Be A Hero For Babies day on July 23rd, and raised $4.65 million, of which my district raised over $5,300.
We have also partnered with the National Center for Missing and Exploited Children through our M.I.L.K. program (Managing Information on Lost Kids). We provide parents with a software program designed to help them keep up to date information, such as photos and descriptions on their home computers so they have immediate data to share with law enforcement in the event a child becomes missing. We provide this software free of charge.
We are involved in education, with a variety of in-school programs and scholarships to help students become better prepared to realize the American dream.
Locally, individual agents are involved in many community oriented events for schools and charities. Among these is the annual Farmers Charity Golf Tournament which is organized by Cory Cooper, an Agent in our District. The 12th Annual tournament was held August 6, 2010 and we raised nearly $15,000 for the Utah Hemophelia Foundation, bringing the 12 year total to over $113,000 raised.
This past Christmas, Farmers Agents and District Managers in Utah, along with Farmers Corporate, raised tens of thousands of dollars and provided food, clothing, gifts and a Christmas Party for the families of deployed service men and women at Hill Air Force Base. Our community involvement grows every year.
Farmers Insurance Group is dedicated to protecting our clients, providing an unmatched business opportunity for our Agents, and “giving back” to the communities we serve.
