State Farm to pay state of Kentucky $1.35 million in settlement

LOUISVILLE, Ky. (WDRB) -- The state of Kentucky reached a $1.35 million settlement with State Farm, according attorney general Daniel Cameron.

According to a news release, the agreement settles allegations that State Farm failed to adequately identify and disclose to some Kentucky customers uninsured and underinsured coverages available under their insurance policies.

"This settlement with State Farm provides us confidence in State Farm in its role as an important insurer in the Commonwealth," Cameron said in a news release. "I’m grateful to State Farm for working with us to come to a fair resolution and for taking concrete steps to ensure something like this does not happen again."

Kentucky received a $1.35 million lump sum payment. According to a news release, State Farm strengthened its notification policies, trained staff and revised claim procedures.

To read a copy of the settlement, click here.