Devoted to the Insurance industry and all thing related

It seems that more Hurricane Katrina and Wilma cases continue to end in settlements.  The latest is in Florida where “A Florida court has approved a $6.8 million class action settlement for 12,000 State Farm Florida policyholders with hurricane claims for screen enclosure damage” according to National Underwriter.  The settlement represents “100% of damages sought by policyholders.”

Interestingly a spokesperson from State Farm Phil Supple claims the problem “had arisen because depreciation language standard for Florida insurance policies had been inadvertently dropped in printing up the policies for the five counties where the class plaintiffs are located.”  

Wouldn’t it be easy to see whether the depreciation language was included in the printed policies or not?  Regardless State Farm agreed to the settlement with little fuss.