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STATE FARM PAYS $29 MILLION IN DIVIDENDS TO MARYLAND, VIRGINIA CAR OWNERS

STATE FARM PAYS $29 MILLION IN DIVIDENDS TO MARYLAND, VIRGINIA CAR OWNERS
 BLOOMINGTON, Ill., July 8 /PRNewswire/ -- State Farm Mutual Automobile Insurance Company is mailing premium refunds to about 448,000 Maryland and Virginia auto insurance customers living in the metro-Washington, D.C., area.
 The refunds will be about 10 percent of each individual's semi- annual premium in Maryland and about 6.3 percent in Virginia. They will be mailed to State Farm policyholders, either as checks or credits to their accounts, over a six-month period beginning in mid-July.
 State Farm Mutual authorized the dividends for customers in the two states because claim costs were less than anticipated. In Maryland the payback will be $17.5 million, which equals a 10 percent refund of the semi-annual premiums paid by 556,000 policyholders. In Virginia it will be $11.4 million equaling 6.3 percent of the semi- annual premiums paid by 570,000 policyholders.
 Maryland and Virginia are among 19 states where State Farm Mutual customers are sharing a total of more than $169.3 million in dividends.
 The refunds are part of a program under which State Farm has returned more than $1.4 billion to its auto insurance customers since 1971. The most recent dividend was paid beginning in December 1991, when the company returned more than $198 million to customers in 12 states and one province.
 The size of each customer's dividend will vary from one state to another. The percent of semi-annual premium to be refunded, the estimated total dollar amount that will be returned in each state, and the number of customers affected are:
 Alabama, 13.2 percent, $19.2 million, 634,000 policies; Idaho, 7.9 percent, $2.1 million, 150,000 policies; Iowa, 2.5 percent, $1.8 million, 418,000 policies; Kentucky, 4.1 percent, $4.7 million, 499,000 policies; Maryland, 10 percent, $17.5 million, 556,000 policies; Missouri, 5.7 percent, $12.1 million, 935,000 policies; New Hampshire, 20 percent, $3.3 million, 55,000 policies; New Mexico, 4.1 percent, $2.4 million, 240,000 policies;
 North Carolina, 7.1 percent, $10.7 million, 461,000 policies; North Dakota, 6.8 percent, $800,000, 84,000 policies; Ohio, 11.1 percent, $33.5 million, 1,299,000 policies; Oklahoma, 2.8 percent, $2.7 million, 437,000 policies; Oregon, 7.5 percent, $7.6 million, 456,000 policies; South Carolina, 11.5 percent, $18.8 million, 704,000 policies;
 Tennessee, 7.3 percent, $12 million, 723,000 policies; Virginia, 6.3 percent, $11.4 million, 570,000 policies; Washington, 4 percent, $5.2 million, 508,000 policies; Wisconsin, 3.3 percent, $2.9 million, 430,000 policies; and Wyoming, 3.5 percent, $600,000, 110,000 policies.
 -0- 07/08/92
 CONTACT: State Farm Mutual Automobile Insurance Company, Public Relations Department, 309-766-2625 CO: STATE FARM MUTUAL AUTOMOBILE INSURANCE COMPANY IN: INS ST: MD,VA -- DC009 -- X940 07/08/92
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Publication:PR Newswire
Date:Jul 8, 1992
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