Allstate Settles Policyholders’ Claim Estimation Suit

Law360, New York (March 8, 2010, 3:24 PM EST) -- Allstate New Jersey Insurance Co. and policyholders have agreed to settle a lawsuit accusing the insurer of using an improper claims estimation process that caused it to factor the prices of Home Depot Inc. materials not used in the repair into the construction claims total.

Judge Renee Marie Bumb said the parties notified the court that they had reached a settlement and dismissed the case in an order filed Friday in the U.S. District Court for the District of New Jersey.

Plaintiffs counsel Michael DeBenedictis of...
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