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Show State Farm Mutual To Pay Utahn's Dividend State Farm Mutual auto insurance policyholders in Utah will receive a 4.3 percent per-cent dividend payment beginning April 15, thanks to mild weather conditions in 1981 which resulted in fewer claims than anticipated. The dividend payment, announced today by State Farm Regional Vice President Robert Bischoff, will be subtracted from policyholders' first premium notice after April 15. "For us, 1981 was a very unusual year in Utah," said Bischoff. '.'To begin, with,, there were no serious storm losses in the state. Coupled with that were the 'no snow' winter of 1980-81, increasing fuel costs and sensible driving which resulted in fewer claims. Because we have had unexpected gains,'' said Bischoff, "we want to share them with our customers." According to Bischoff, Slate Farm Mutual has reduced its auto premium rates in Utah twice in recent years, in 1980 and again in December 1981 when a new accident-free discount was initiated (which reduced premium rates for about half of the 191,000 vehicles State Farm Mutual insures in the state). Nationwide, State Farm Mutual will return dividends totaling $50.6 million to customers in 19 states where underwriting profits contributed more than was needed to meet the company's total financial needs. The dividends will vary in amount from state to state depending on underwriting results in each area. State Farm Mutual Automobile Insurance Company is the largest automobile insuror in Utah, serving more than 19 percent of the vehicles in the state. The company's Mountain States regional office, which serves Utah, Wyoming and Colorado, is headquartered at Greeley, Colo. |