By Blake Jackson
Kentucky Attorney General Daniel Cameron announced today a $1.35 million settlement with State Farm Mutual Automobile Insurance Company (State Farm). The settlement resolves allegations that State Farm failed to adequately disclose uninsured and underinsured motorist coverage options to some Kentucky customers.
“This settlement demonstrates our commitment to protecting Kentucky consumers,” Attorney General Cameron said. “We are pleased that State Farm has agreed to take steps to ensure that this issue does not happen again.”
As part of the settlement, Kentucky will receive a $1,350,000 lump sum payment to reimburse the state for the costs of its investigation. State Farm has also agreed to strengthen its notification policies, train staff on revised claim procedures, and implement a database search tool to better identify available coverages under household automobile insurance policies. Additionally, State Farm will begin exploring the possibility of offering multi-car policies in Kentucky starting in 2025.
The settlement is not an admission of liability or wrongdoing on State Farm’s part.
Photo Credit: kentucky-agricultural-board
Categories: Kentucky, General