Allstate Insurance reaches settlement on claims from 1994 California quake

Article Abstract:

Allstate Insurance Co. has set aside $60 million to make sure that up to 9,000 earthquake victims in the Northridge, Calif. area are properly reimbursed for damage dating back to the 1994 quake. The issue that this settles is all the engineering drafts that Allstate adjusters returned to the engineers asking for clarification rather than paying the claims. Now those claims can be re-examined and the $60 million is not a cap. The company had paid 46,000 earthquake claims for $1.7 billion.

Property & Liability Insurance, Surety insurance, Class actions (Civil procedure), Cases, Class action lawsuits, Insurance industry, Investigations, Property and casualty insurance, Abstract, Allstate Insurance Co., Earthquake insurance

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Judge upholds award against State Farm

Article Abstract:

A $9.5 million punitive-damages award against State Farm Mutual Automobile Insurance Co. was upheld by a state court judge in Boise, Idaho. The judge stated that the company was aware that its refusal to pay a woman's medical claim was partly based on a false medical review. The decision by Fourth Circuit Judge D. Duff McKee confirmed a jury verdict in April 1998.

Comment:

A $9.5 mil punitive-damages award against State Farm Mutual Automobile Insurance Co. upheld by a state court judge

Legal/Government Regulation, Auto Insurance, Automobile insurance, State Farm Mutual Automobile Insurance Co., Article

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