Michael Tipsord took over the reins of one of America’s largest insurance and financial services companies, State Farm, in 2015 after the departure of Edward Barry Rust Jr. from the position of CEO and President. In 2016, he also became the Chairman of the core business of the company – State Farm Mutual Automobile Insurance Company. State Farm CEO Michael is an industry veteran, who has held several leadership positions in the company right from CFO to COO. In his new role, he is focused on business expansion and evolution as well as value addition to customer experiences. If you are searching for more information such as State Farm CEO email address, Michael Tipsord net worth in 2023, wife & family details, and State Farm CEO salary, scroll down the wiki.
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State Farm Competitors
Some of the leading competitors in the field of auto insurance include:
- GEICO
- Allstate
Michael Tipsord Net Worth 2023 – State Farm CEO Salary
As of 2023, the net worth of State Farm CEO was estimated to range between 100-125 million USD. In 2021, he reportedly earned a compensation of around 24.5 million USD.
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State Farm Net Worth 2023 – Is State Farm Profitable?
As of 2023, the market cap of State Farm was estimated to lie between 140-160 billion USD. Yes, the company is profitable.
Career & Education – Company, University, & College
Founder George J. Mecherle set up State Farm in 1922. Tipsord started his career with the company in 1988 holding multiple senior positions comprising Vice Chairman of the Board, Chief Financial Officer, and Chief Operating Officer. In 2011, he became COO and prior to that in 2004, he became Vice Chairman and CFO. Before he came to State Farm, he was a law practitioner.
Michael has done graduation from Illinois Wesleyan University in Bloomington. He went to the University of Illinois, Urbana-Champaign to earn a degree in Law. He also holds a CPCU (Chartered Property Casualty Underwriter) designation and a CLU (Chartered Life Underwriter) designation along with having a Public Accounting certificate.
State Farm CEO Email Address | Contact Michael Tipsord
To reach the CEO on email try writing to [email protected].
State Farm Customer Care Number | Help & Support
To get in touch with company’s customer service team, visit their Contact Us page.
Michael Tipsord Wiki – Age, Wife, Family, & More
State Farm CEO Michael, age 64, was born in Illinois in 1959. His wife’s name is Conni Tipsord. The couple has three sons. Michael is a sports lover.
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I have been with State Farm for a number of years but plan on transferring my RV and car insurance to another company. After it was revealed that State Farm is not going to honor policies on those affected by Hurricane Ida when other insurance companies are going to honor policies. Shame on you State Farm. I will no longer patronize such shameful and unethical behaviour. Not covering people just because they were not under evacuation orders. This will back fire on you big time.
The amount of money these big corporations make off of us, the consumers is never enough. My claim was denied for plumbing issues. I was told by my adjuster St. Farm homeowners insurance does not pay for plumbing issues but does pay for the damages caused by the water damage. 6 months later l was told and recieved a letter from the adjuster denying my entire claim. The adjuster did not come to my home due to their Covid rules, instead did a virtual walk through with my contractor. The adjuster nor another State Farm office could help me aquire an appeal form. Had tried State Farms website which states you can get an appeals form there. Not True.I then filed a complaint with my states Dept of insurances.
My suggestion is to change insurances and continue fighting the fight and to expose them. Any Corp where the CEO makes over 8 million a year and are the biggest, riches Companies in the US, possibly care little about us, the customers! Boycott them n spread the word.
Peggy C. Hannah:
January 24, 2021
This letter may or may not mean anything to you, but I must get this off of my chest. Mr. Tipsord, CEO of State Farm, you have my home, three cars, nine life Ins. policy’s of my grandchildren, five of my great grandchildren, life ins. on me and a policy on my business. I have been part of the State Farm family for twenty eight years. I have never filed a claim until,
August 30, 2020. My upstairs bathroom pipes burst and leaked into my closet. I can’t began to tell you what nightmares have transpired since then. For five months I have been shuffled, and passed around like old news paper. My house is still in shambles. You paid a company for repairs that was never done. You wrote them a check without sending an adjuster out to see the work. I still have a hole in my celling, wood and tile floors ripped apart. My bathroom upstairs, the tiles are removed, the toilet is pulled up, my carpet have big squares cut out, and my walls are water stained. My personal property lost is catastrophic. I am seventy one years old and a widow. I feel like I’ve been robbed. You write your policies were no one wins but you.
Michael L. Tipsord is Chairman, President and Chief Executive Officer,
State Farm
August 31, 2020
I’ve always liked State Farm. We’ve had a great relationship until now. I’m renting an apartment in Orlando and State Farm wrote up a policy for me which I paid.
Later I get an email from my local State Farm denying my coverage. The agent was very apologetic. She said State Farm uses a company called LEXISNEXIS which I immediately responded to the day I got my letter August 12th. Receiving no response from LexisNexis, I followed up with them on the 17th & 21st. Today is the 31st and still no reply. My coverage is to end Sept 2. Here are the claim #s listed on the response on Aug 12. B1BOIO3 & 20190161319282 [Incident: 200812-002786]
I have not filed a claim with State Farm. I am renting my home out in Tulsa, OK, and the renters had nothing to do with the water leak. The City was always encouraging home owners to get insurance for water and sewer lines from the house to the street. I bought these policies years before renting out my home. I don’t think it is fair that a company like LEXISNEXIS has been given that much authority to deny renters insurance carte blanc! Right now I am very dissatisfied with State Farm Corporate as the local agency’s hands are tied. I
Respectfully submitted,
Anita Repp
[email protected]
xxx-xxx-xxxx
PS: As of this writing, September 5, 2020, I have not heard from LexisNexis nor have I heard from Corporate State Farm. I submitted my c/o to Corporate State Farm August 31, 2020.
Having not received any help, I am reaching out to you for your assistance.
Respectfully,
Anita Repp
Sent from my iPad
I guess all the commercials on TV are not true. one of the pipies in our apt went bad and the agent is taking its sweet time processing the claim telling us not to make any repair until he processes the claim. meanwhile we have not take a shower in 3 weeks. I have an option of going to my parent but will be risking making them sick with the current Covad situation. so all these commercials about a good neighbor being there are basically BS. we have been having them for a few years and this is the first time we file a claim and then this happens. the guy said 3-4 to days to process it now he is saying that he did not say that? what kind of customer service is this?
Hello Mr. Tipsord
I am 76 A A senior, Cancer surviver and in 2nd recovery from Spinal Stenosis surgery by Infusions. I am ion trouble and have lost a large portion of my home items after a tree fell in my home in 12/2019; I had to get a Legal Aid Atty. to help due to the way the claim was being handled. I won’t share the documents now but they are extensive with unfounded charges that in fact can be proven with taped recording that is kept by State Farm on this claim. I barely managed sending claim info to Mrs. Kelly Jones, Agt. w/o a reply (trying to deal with my only brother in Hospice and me with my limited ability to function properly. I have lost a lot and need your help if you would inquire about this claim up to payment of same. Too old to start over. I am alone but have a strong case relative to the overreach of the Agent by selecting all providers with contractual agreements with SF w/o my knowing of this pre-arranged alliance thus leaving me no recourse for a fair solution. Ms Jones was contacted and sent my claim on 12/31/2019; no reply today. I know you are busy but I would be eternally grateful if you would further my efforts for a sense of justice after multiple years of thinking I was prepared for any disaster. I thank you in advance for hearing my plight. Thanks
My Banking Internet service Accidentally Paid My Insurance Twice.Paid $241.45 on The 4th of May and on The 5th I found the error.Contacted my Bank that day and was advised to call State Farm.State farm agent tried but contact in Tennessee non management Employee and told I would receive a check by end of the Week(not true}.Called State farm again and Manager said Check would be received in 10 to 14 days.Now it`s 21 days waiting for that Check living on a FIX`s income and less then $75.00 to live on till I get that check. Disappointed as I have been with SF for years.DL Dreasher
I have been a customer for over 50 years (3 cars, homeowners policy). Recently my basement flooded. I was surprised to learn that the damage was not covered. As no agent during the course of 50 years has ever informed me that the basement required an additional amendment…I believe I was misled either on purpose or unintentionally.
Don’t know how to contact you. Have been a State Farm client for awhile. Live in Chattanooga TN and recently was one of many involved in the tornados. The claim process and results so far have certainly left much to be desired. I work in the Health care industry so understand the Covid 19 issues. Was disappointed though in the evaluation issues. Seemed very superficial when we both know the people approach is better served.
I sent a letter to Mr. Tipsord on March 28, 2020 regarding replacing roofs on two houses. I am wondering if Mr. Tipsord has received and read the letter.
Ralph Knebel
If he is like Agent Guy Matsumoto, he’ll never reply if there is a claim. Only when they want to collect.