AURORA, ON, Dec. 28 /CNW/ - State Farm Insurance announced today it is
issuing refunds to approximately 23,000 automobile insurance policyholders in
Ontario as a result of an error in the application of the Graduated Licence
Discount (GLD) and Driver Inexperience Factor surcharge (DIF). The DIF was
introduced by State Farm in 1995 to work in tandem with the Graduated Licence
Discount made available under the Graduated Licensing Program.
State Farm customers who are entitled to a refund will receive written
notification beginning in January, 2008. Refunds including interest will be
issued promptly and steps have been taken to correct the error. The average
refund is approximately $120.00.
State Farm customers who receive a refund and require additional
information should contact their State Farm agent.
"We apologize to our affected policyholders for any inconvenience this
may have caused. State Farm discovered this error through an internal review,
and promptly reported it to the Financial Services Commission of Ontario,"
said State Farm Senior Vice President, and Chief Agent, Bob Cooke. "We have
worked quickly with FSCO, to resolve this matter to the satisfaction of our
State Farm Insurance is the third largest auto insurer in Ontario and the
fifth largest in Canada. State Farm is also the third largest property and
casualty insurer in Ontario and the eighth largest in Canada. State Farm has
been serving Canadians since 1938. State Farm's 507 Canadian agents currently
provide insurance and financial services ranging from mutual funds and life
insurance to vehicle loans and home and auto insurance. For more information,
please visit StateFarm.ca.
For further information:
For further information: Pete Karageorgos, Public Affairs Supervisor,
State Farm Insurance Companies, 333 First Commerce Drive, Aurora, ON, L4G 8A4,
(905) 750-4434, www.statefarm.ca