State Farm To Pay $80M For Katrina Claims

Law360, New York (January 24, 2007, 12:00 AM EST) -- In a resolution that will give thousands of insurance policyholders the chance to review and dispute their awards, State Farm Fire & Casualty Co. has agreed to pay at least $80 million to settle a class action brought by Mississippi residents who suffered damages from Hurricanes Katrina and Rita.

Close to 35,000 families that are part of a class claiming their insurance awards did not cover the property destruction wrought by the hurricanes will be reached by the settlement, State Farm and Scruggs Katrina Group, a...
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