The Mississippi Supreme Court won’t dismiss a state lawsuit against an insurance company over Hurricane Katrina claims.
The Sun Herald reports that Attorney General Jim Hood’s lawsuit against insurance giant State Farm Fire and Casualty Co. can go forward. The lawsuit was filed nearly 10 years after Katrina left a wide swath of destruction.
Hood’s lawsuit says State Farm owes Mississippi millions of dollars. It contends the company delayed payments so that the state’s federally funded Homeowners Assistance Program would cover the losses.
The suit says Mississippi paid 6,810 policyholders five times more than State Farm did for Katrina damage.
The lawsuit claims Mississippi paid $522 million to State Farm policyholders for Katrina damage, while State Farm paid $98.7 million.
The company sought to have the lawsuit dismissed.
Topics Lawsuits Mississippi
Was this article valuable?
Here are more articles you may enjoy.
Florida-Based Safepoint Withdraws IPO Just as it Was Expected to Launch 
Need Wind Mitigation? New Florida Insurer Wants to Help With That 
Flood Insurance Gap Will Squeeze Local Governments and Homeowners, Moody’s Says 
Ship Insurers Set for Major Claims From Iran War, Allianz Says 
