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Question: Because of gains by arch-rivals Geico and Progressive and younger consumers who’ve grown up with the Internet and prefer to buy online rather than through an agent, State Farm is losing some of its market-share in the auto-insuring business, to the point said Crain’s Chicago Business last week, that “around 2022” Geico could overtake State Farm as the country’s largest auto insurer. What would be especially sad if that would be true?
Answer: 2022 will be the 100th anniversary of Merna farmer G.J. Mecherle founding his company back in 1922 in downtown Bloomington. State Farm has planned many events to help celebrate that historic milestone, none of which include falling to No. 2.