This entry was posted on 6/8/2007 6:01 AM and is filed under Other.
To recap, I live on the Gulf Coast and this area was devastated by Hurricane Katrina. Then to ad insult to injury, people who had paid insurance premiums to State Farm, put in their claims and were denied. State Farm argued that water did the damage and they don't cover water. People not near the water heard things like, they don't cover wind. A local couple who had nothing but a slab left took them to court.
The first case went to court a couple of months ago and the judge awarded the couple $232,000 for their home and then a jury awarded them $2.5 million for punitive damages against State Farm. What a win! We are all hoping that this judgment set a precident!
UPDATE
Since this original entry, State Farm just keeps settling. I don't understand why they don't just pay up to those who held policies. Instead they wait till the person files a suit then they are settling....doesn't make much since to me to keep paying legal expenses on top of settling.
