State Farm returning $7.5 million

Monday, June 12th 2000, 12:00 am
By: News On 6

OKLAHOMA CITY (AP) -- State Farm Mutual Automobile Insurance Co. policyholders in Oklahoma will share in $7.5 million in premiums being returned by the company.

The company announced the policyholder dividends program Monday. More than $1 billion is being returned to policyholders in 49
states, the District of Columbia and three Canadian provinces.

Policyholders will get their dividend by check or credit to current accounts over the next renewal cycle, which began Monday.

The premiums vary depending on the state or province but will average about $29 per insured vehicle, State Farm said.

State Farm said the dividends are a one-time return of premiums based on financial results. The company returns money when financial results are better than anticipated and business
conditions permit.