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STATE FARM BOOSTS HURRICANE ANDREW PAYOUT ESTIMATE TO $2.1 BILLION

 STATE FARM BOOSTS HURRICANE ANDREW PAYOUT ESTIMATE TO $2.1 BILLION
 BLOOMINGTON, Ill., Oct. 14 /PRNewswire/ -- State Farm Insurance today raised the estimate of its Hurricane Andrew claim payments to $2.1 billion.
 The new estimate (up from an earlier $1.5 billion figure) came as the company reported it had "achieved the goal and then some" of having all claims reported by Sept. 15 inspected by Oct. 15.
 The new dollar estimate grew from data accumulated by State Farm's 2,600 agents and claims people who have been working in South Florida since Andrew hit. Many of the damaged homes did not meet wind resistance building codes on which the earlier estimate was based. "That bumped up the total bill substantially," a spokesperson said.
 State Farm reported its customers had submitted 112,789 claims as of Sept. 15 -- the cutoff date set by the state in its deadline for Oct. 15 inspections. State Farm said it had inspected or closed 145,149 claims as of Wednesday (Oct. 14). Total claims reported (including those after Sept. 15) to State Farm: 149,686. The company's Andrew payout so far is well over $1 billion.
 "We plan to get to the recent claims -- and those continuing to come in -- within the week," the spokesperson said.
 -0- 10/14/92
 /CONTACT: Jim Stahly, 309-766-2714, or Jerry Parsons, 309-766-6396, both for State Farm Insurance Companies/ CO: State Farm Insurance Companies ST: Illinois IN: INS SU:


LD -- NY087 -- 0092 10/14/92 17:10 EDT
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Date:Oct 14, 1992
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