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Hurricane Katrina Class Action Lawsuit Settled For $61 Million (Huffington post)

BATON ROUGE, La. (AP) — A state-run insurance company of last resort agreed
Thursday to settle two remaining class-action lawsuits tied to claims handled
after hurricanes Katrina and Rita.

The board for the Louisiana Citizens Property Insurance Corp. voted
unanimously to settle the long-running lawsuits for $61 million. Policyholders
sued the company over the slow handling of claims after the hurricanes struck
in 2005.

The board also authorized company CEO Richard Robertson to place caps of
$4,500 per claim, $150,000 for court costs and $750,000 for administrative
expenses.

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More on Hurricane Katrina

Huffington post



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