Insurance Coverage Blog points to a message at Scruggs Katrina Group announcing a settlement in claims made by 227 Nationwide-insured Katrina claimants.
This is not particularly surprising. The judicial tone on the Mississippi Gulf Coast was pretty clearly established through State Farm’s woes. Presumably, any insurer being faced with lawsuits over tough claims adjustment practices will be inclined to pay up, rather than face some potentially much-harsher judge-and-jury-imposed penalties.
Terms of the settlement haven’t been released. However, I would be particularly interested in hearing what legal fees have been awarded.