The alliance includes many advertising and marketing opportunities, including television, radio and print inventory as well as joint marketing efforts. The partnership also includes marketing rights to the NCAA's 88 national championships involving 23 men's and women's sports.

"The NCAA embodies all the values and characteristics we embrace as a corporation, such as character, dedication and honesty," said Mark Gibson, assistant vice-president of advertising for State Farm. "State Farm has a long history of supporting education and intercollegiate athletics through our regional sports sponsorships at 91 colleges and universities."

State Farm, in conjunction with the Women's Basketball Coaches Association, also sponsors the Wade Trophy, which recognizes the Division I women's basketball player of the year.

State Farm's advertising efforts will include the continuation of the successful campaign, "True Stories." The "True Stories" ads depict real-life events with State Farm agents providing service that embodies the State Farm motto "Like a Good Neighbor, State Farm is There."

"We are pleased to have State Farm join our corporate-partner family," said Chris Simko, senior vice-president with CBS Sports sales and marketing. "Their long-standing commitment to college athletics has been exemplary. State Farm understands the tremendous benefits derived from integrated marketing around collegiate platforms."

Greg Shaheen, NCAA vice-president for Division I men's basketball and championship strategies, said State Farm has demonstrated its support of intercollegiate athletics and academics throughout the years.

"This agreement provides State Farm with an additional stage to communicate positive values during our championships with its widespread advertising and marketing resources," Shaheen said. "They have supported our member institutions and student-athletes with their sport sponsorships over the years, and the NCAA is pleased to support them with this new initiative."

State Farm insures more cars than any other insurer in North America and is the leading U.S. home insurer. State Farm's 17,000 agents and 71,000 employees serve nearly 73 million auto, fire, life and health policies in the United States and Canada. State Farm also offers financial services products through State Farm Bank. State Farm Mutual Automobile Insurance Company is the parent of the State Farm family of companies. State Farm is ranked No. 18 on the Fortune 500 list of largest companies.