The whiff from yesterday’s docket report in Association Casualty Ins. Co., et. al. v. Allstate Ins. Co., et. al got stronger today – and once again, we see loopholes where there should be a safety net.
Plaintiffs rested their case before the jury today and all of the remaining insurance company defendants followed State Farm’s lead and jointly submitted a Motion for Judgment as a Matter of Law supporting their motion with a Memorandum. In that, we find a troubling thought:
The evidence has shown that the Board engaged in a comprehensive rational process, considering several pertinent factors in deciding on a reinsurance program for the MWUA for 2004 and 2005 storm seasons, which was unquestionably reasonable and in good faith.
It will be interesting to read what Steve and CLS have to say about that! It will just be after-the-fact. Continue reading “News on Windpool reinsurance case not reassuring”
There has been lots of news lately from Team Rigsby that Nowdy has blogged extensively on here and here. Anita Lee at the Sun Herald also wrote a story on Team Rigsby for yesterday’s paper that I missed. It includes a good synopsis of recent events and an interesting quote from Chip Merlin:
Two Ocean Springs insurance adjusters who accused their former employer, E.A. Renfroe adjusting firm, and State Farm of fraud are negotiating an end to their legal battle with Renfroe while preparing to argue their case against State Farm in federal court in Gulfport.
Former Renfroe employees Cori and Kerri Rigsby, assigned to State Farm after Katrina, took insurance records in an attempt to prove the company blamed policyholders’ Katrina damage on tidal surge to avoid paying wind claims. Instead, the Rigsbys allege, State Farm overbilled the National Flood Insurance Program.
The Rigsbys lost their jobs after they admitted taking the records. Renfroe won a breach of contract lawsuit against the sisters in the company’s home state of Alabama. A federal judge there was set to determine how much in damages the Rigsbys should pay Renfroe for taking the records. Continue reading “Anita Lee Reports from Team Rigsby”
If you recall the recent post no disaster assistance for broken dreams, you may also remember the cases discussed in the post were about replacement cost coverage. Fowler v State Farm also had replacement cost coverage as an issue.
Replacement cost is the amount it would take to replace or rebuild your home or repair damages with material of similar kind and quality, without deducting for depreciation.
Let’s take a closer look at how the issue emerged in the Motion in limine to Preclude Evidence of or Reference to Replacement Cost of Dwelling in Fowler’s case.
Defendant State Farm Fire and Casualty Company (“State Farm”) hereby moves this Court for an in limine order excluding any evidence, testimony, or argument relating or referring to the amount it would cost to replace or rebuild Plaintiffs’ Pass Christian vacation home. As set forth in the accompanying Memorandum of Law, Plaintiffs’ homeowners policy provides that Plaintiffs may recover replacement cost – i.e., the amount actually expended to repair or replace their dwelling (subject to specified limitations) – only “when the repair or replacement is actually completed.” Continue reading “Replacement cost coverage – easy to say but does it pay?”