State Farm Settles Class Action for $20.93 Million Over Misleading Policies

State Farm has agreed to establish a $20.93 million fund to resolve a class action lawsuit alleging the sale of misleading U Coverage policies to motorists in New Mexico. According to NS3.AI, the settlement pertains to policies purchased between January 1, 2010, and December 31, 2021. Affected policyholders must submit their claims by July 2.