Tuesday, June 12, 2007
Mississippi Sues State Farm
Due to the Hurricane Katrina damage, Mississippi Attorney General Jim Hood is suing State Farm Fire and Casualty CO, claiming the company failed to honor an agreement for a mass settlement of claims. He had agreed in January, to drop State Farm from a lawsuit his office filed against several insurance companies for refusing to cover damage in homes from Katrina's storm surge. He did that after State Farm settled with lawyers for homeowners on a $50 million payout to about 35,000 southern Mississippi policyholders who had not sued the company but could have their claims reopened.