Katrina-Related Insurance Claims
Anyone familiar with La law? I've got a question for the professionals out there.
Bad faith, arbitrary and capricious acts by insurance companies lead to awards for the insured.
Anybody have any 'worst case scenarios' out there? Can we lose on 1220 AND on 658?
Let me know. :wallbang:
Re: Katrina professionals ONLY
Quote:
Quoting grundylaw
Anyone familiar with La law? I've got a question for the professionals out there.
Bad faith, arbitrary and capricious acts by insurance companies lead to awards for the insured.
Anybody have any 'worst case scenarios' out there? Can we lose on 1220 AND on 658?
Let me know. :wallbang:
You will have to explain your problem before anyone can answer it.
Re: Katrina-Related Insurance Claims
As is well known, in La, if a judge finds a insurance company failed to make an offer on an insurance claims and acted in a manner deemed "arbitrary and capricious," the judge can award additional damages ($1,000 or 25% of the final award, whichever is greater).
I'm wondering if there are any attorneys out there who have been hit with these sanctions. What is the worst case scenario here?
It's a well-founded part of the law, but has there been an increase in its application since Katrina/Rita claims started pouring in? Also, can you be found to have acted 'arb and cap' and lose under 1220 AND 658? Sort of a double damages?