Allstate Insurance reaches settlement on claims from 1994 California quake
Article Abstract:
Allstate Insurance Co. has set aside $60 million to make sure that up to 9,000 earthquake victims in the Northridge, Calif. area are properly reimbursed for damage dating back to the 1994 quake. The issue that this settles is all the engineering drafts that Allstate adjusters returned to the engineers asking for clarification rather than paying the claims. Now those claims can be re-examined and the $60 million is not a cap. The company had paid 46,000 earthquake claims for $1.7 billion.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Judge upholds award against State Farm
Article Abstract:
A $9.5 million punitive-damages award against State Farm Mutual Automobile Insurance Co. was upheld by a state court judge in Boise, Idaho. The judge stated that the company was aware that its refusal to pay a woman's medical claim was partly based on a false medical review. The decision by Fourth Circuit Judge D. Duff McKee confirmed a jury verdict in April 1998.
Comment:
A $9.5 mil punitive-damages award against State Farm Mutual Automobile Insurance Co. upheld by a state court judge
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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