La. Insurer Settles Katrina Contractor Suit For $23M

By Evan Weinberger

Law360, New York (August 24, 2010, 12:29 PM ET) -- Louisiana's property insurer of last resort has reached a $23 million settlement with customers who claimed the company had not sufficiently covered so-called overhead and profit claims stemming from hurricanes Katrina and Rita.

The Louisiana Citizens Property Insurance Corp. will set up a fund to cover claims from homeowners who were required to employ general contractors to oversee the work of three or more specialists required to repair homes damaged in the devastating 2005 storms. The settlement was first reported Monday in the New Orleans Times-Picayune....
To view the full article, take a free trial now.

Already a subscriber? Click here to login

You must correct or enter the following before you can submit this form:

All fields required

  5. Required

Only Law360 gives you:

Non-stop coverage of high-stakes litigation across 30 practices

Real-time tracking and reports on 10,000+ companies, firms and industries

Over 80,000 attorney profiles with neutral data collected from active lawsuits

Research tools to find cases, court documents, attorneys and companies

Customized feeds and alerts that can easily be shared with colleagues

In-depth expert analysis from high-profile attorneys at top firms

Access to our vault with over 75,000 original articles