La. Insurer's Katrina Claims-Handling Deal Gets Final OK

Law360, New York (October 31, 2013, 3:50 PM EDT) -- A Louisiana judge blessed an eight-figure settlement on Wednesday between the state’s property insurer of last resort and a policyholder class over alleged claim handling delays after hurricanes Katrina and Rita, opening the door for extra compensation on around 60,000 claims.

The estimated $40 million deal resolves a long-running class action accusing Louisiana Citizens Property Insurance Corp. of waiting to begin the loss adjustment process until 30 days after being contacted, a violation of state law.

The class consists of tens of thousands of property owners...
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