Search
 

State Farm Set to Settle Mississippi Katrina Claims?

State Farm is in the final stages of settling more than 600 lawsuits in Mississippi that stem from the destruction caused by 2005's Hurricane Katrina, according to an article appearing in the New

By Eric Gilkey | Updated on January 09, 2007

State Farm is in the final stages of settling more than 600 lawsuits in Mississippi that stem from the destruction caused by 2005′s Hurricane Katrina, according to an article appearing in the New York Times. The newspaper reported that settlements could total up to $80 million, and said other insurers are expected to adopt similar deals.

According to Times reporter Joseph Treaster, the state’s largest property insurer will review 35,000 homeowner claims to analyze if claim disbursements should be increased. Because of the difference of factors between Mississippi and Louisiana, however, these claim reviews won’t apply to homeowners affected by Katrina in New Orleans and the rest of the state. Claims resulting from the levee breaches in New Orleans still are being litigated in Louisiana.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.