Allstate Insurance Company announced Monday its agreement to settle claims filed by Mississippi policy holders for coverage of damage to their homes caused by Hurricane Katrina. The insureds contended in their lawsuits that Allstate wrongfully refused coverage of damage resulting from storm surge, claiming instead that the policies only covered wind damage.
Neither Allstate nor attorneys for the policyholders have disclosed the terms of the agreement. An Allstate spokesman, Mike Siemienas, stated that Allstate had settled 99% of its Mississippi claims relating to Hurricane Katrina.
Source: http://www.clarionledger.com/apps/pbcs.dll/article?AID=/20070626/NEWS/706260367/1001/news
