Judge OKs $39M Deal In Lloyd's Hurricane Damage Action

Law360, New York (June 9, 2011, 5:58 PM EDT) -- A Florida federal judge on Thursday preliminarily approved a $39 million settlement between Lloyd’s of London and a class of property insurance policyholders who alleged its underwriters concealed deductibles for hurricane damage.

U.S. District Judge Cecilia Altonaga granted the plaintiffs’ motion for preliminary settlement approval and certified a class of Lloyd’s insureds who submitted claims for hurricane damage on policies that omitted or hid language related to separate hurricane deductibles in violation of Florida law.

The judge’s order winds down the three-year-old case, which was removed...
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