Miss. AG Drops State Farm Katrina Case

Law360, New York (August 7, 2008, 12:00 AM EDT) -- The Mississippi attorney general said Wednesday that he has settled his lawsuit against State Farm Insurance Co. because the insurer has promised to re-evaluate the claims of some policyholders who suffered property damage from Hurricane Katrina's storm surge.

Attorney General Jim Hood, who has opposed the settlement process, said that State Farm had reopened some claims included in a January 2007 agreement and made additional payments of more than $74 million to Gulf Coast policyholders.

Hood said Wednesday that under the terms of the settlement of...
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