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The Sun Herald reported that based on the settlement, the $12 million cost represents “restitution for injury, which was or might have been attributable to a violation of regulation or potential violation of regulation” on the a part of State Farm. The insurer, nevertheless, has not admitted any legal responsibility in its dealing with of claims associated to Hurricane Katrina.
State Farm had initially paid the settlement in February 2021, however Attorney General Lynn Fitch selected to not disclose particulars of the settlement. It was solely after The Sun Herald not too long ago filed a public data request to safe a duplicate of the settlement that information of the settlement got here to gentle.
It was famous that the settlement doesn’t seem wherever on the digital case file on the lawsuit.
The Associated Press mentioned that the lawsuit was initially filed in 2015 by former Attorney General Jim Hood. Sometime after the lawsuit was filed, State Farm misplaced a state Supreme Court attraction searching for to have the case dismissed.
This growth comes months after State Farm Fire and Casualty agreed in July to pay the federal authorities $100 million in restitution for its alleged mishandling of Katrina-related flood insurance coverage claims.
Read extra: State Farm subsidiary agrees to $100 million settlement
It was famous that within the federal case, the jury determined that State Farm defrauded the National Flood Insurance Program (NFIP) by billing it $250,000 for flood injury to a policyholder’s house – regardless of wind inflicting mentioned injury, and the NFIP is barely allowed to cowl for flood injury.
The Sun Herald selected to analyze what turned of Mississippi’s lawsuit in opposition to the State Farm subsidiary after information of the federal assertion broke out.
