Katrina at Two Years: $40.6 Billion Paid on 1.7 Million Insurance Claims
National News • August 7, 2007
Two years later, the "overwhelming majority of claims" in Gulf Coast states from Hurricane Katrina have been settled in what has been the single largest loss — $40.6 billion — in the history of ...
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Subject: re: Adjuster Joe
Posted On: August 9, 2007, 10:31 am CDT
Posted By: Sam
Comment:
You did not really answer my questions. I used your examples on concurrent causation (the wind damage & sinkhole). You responded that you have only seen the concurrent causation clause applied in hurricanes. Why then did you use wind and sinkhole as an example. I also asked how an insured can prove what was covered vs. non-covered damages, again based on your example. You did not answer that.
As to the 5th Circuit decision on VPL, it is a New Orleans case, arising out of Katrina. Oh, by the way...it is in favor of State Farm. It is not a case where State Farm did not prove their case or relied on engineer reports. It is a case where policyholders are seeking the full value of their destroyed home where there was wind & water damage from Katrina, despite the fact that water is not covered under the policy. The 5th Circuit upheld 2 circuit court decisions holding the VPL does not apply when the loss arises out of covered & non-covered perils.
There is an article in yesterday's Times Picayune on this case.
Subject: re: Adjuster Joe
As to the 5th Circuit decision on VPL, it is a New Orleans case, arising out of Katrina. Oh, by the way...it is in favor of State Farm. It is not a case where State Farm did not prove their case or relied on engineer reports. It is a case where policyholders are seeking the full value of their destroyed home where there was wind & water damage from Katrina, despite the fact that water is not covered under the policy. The 5th Circuit upheld 2 circuit court decisions holding the VPL does not apply when the loss arises out of covered & non-covered perils.
There is an article in yesterday's Times Picayune on this case.