A jury has decided Geico Insurance must pay a Southern California man nearly $23 million in compensation and damages after the company unreasonably delayed paying out on a $400,000 damage claim.
The injured driver, Omar Dauod, maintains the delayed payment cost him his business and forced him to sell two homes at a loss.
The Orange County Register reports Tuesday that the case stems from a 2009 accident. The other driver was at fault but his insurance was limited to $100,000, prompting Dauod to file a claim with his own insurance, Geico.
Geico finally paid in December 2013 after an arbitration judge ruled in Dauod’s favor. He then sued the company alleging they mishandled his claim.
Geico’s attorneys didn’t return calls from the newspaper seeking comment on the verdict.
Topics California
Was this article valuable?
Here are more articles you may enjoy.
Meta Loses Insurance for Defense in Major Social Media Addiction Litigation 
Viewpoint: Insurance Broker Valuations – The Elephant in the Room 
Chevron Warns California Risks Fuel Crisis Unless Iran War Eases 
Loss Trends Outpacing Pricing Assumptions: Other Liability Analysis 
