Posted On: June 16, 2008, 12:58 pm CDT

Posted By: Dread

The claim VP or other claims executive that approved this ex gratia payment should be fired. This is an insult to policyholders and investors whose money is being squandered in an unecessary panic. Considering it can't be established the company even manufactured the insulation and the fact that it was used for other than intended purposes, and the mother-of-all facts that some idiot used pyrotechnics where they weren't anticipated don't warrant this kind of payment. Whatever insurance carrier that caved in on this just sent the wrong message to the plaintiff bar that will only encourage their antics on other non-meritorious claims.