Texas Court Lowers Record Mold Award
An appellate court has reduced a monetary award in the seminal mold-related insurance claim case in the country–the $32 million jury verdict in May 2001 to Melinda Ballard of Texas against Los Angeles-based Farmers Insurance Group that sent shock waves throughout the insurance industry.
On Dec. 19, the Austin-based 3rd District Court of Appeals threw out $17 million in punitive damages and mental anguish from the earlier verdict, ruling that Farmers Insurance was only responsible for $4 million in actual damages.
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