GEORGIA CLASS ACTION SUIT TO COST STATE FARM $100M

Illinois-based motor insurer State Farm has agreed to pay $100m to policyholders in Georgia to settle a class action brought by customers who saw the value of damaged vehicles diminish even after they were repaired. State Farm is also set to pay $50m in court costs and attorneys’ fees. It reached the settlement in order to avoid “the uncertainty of future litigation”, according to State Farm spokesperson Phil Supple.