Mississippi Breaks Katrina Insurance Stalemate

Law360, New York (March 20, 2007, 12:00 AM EDT) -- State Farm has struck a deal with the Mississippi insurance commissioner to oversee the reopening of over 35,000 Hurricane Katrina claims, hoping to move forward after a tentative agreement stalled in federal court.

On Monday, the insurer unveiled the agreement with Commissioner George Dale, indicating that it will mimic the proposed class action settlement that failed to secure U.S. District Judge Senter’s approval.

“Unnecessary court battles and political rhetoric in the difficult post-Katrina environment serve no one's interests,” said State Farm. “Now...is the time to resolve...
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