State Farm Katrina settlement payouts expedited after Mississippi intervention Brett Murphy at 3:16 PM ET
[JURIST] State Farm Insurance [corporate website] will accelerate settlement payouts to Mississippi Gulf Coast residents whose homes were affected by Hurricane Katrina [JURIST news archive], according to Mississippi Insurance Commissioner George Dale [official profile] Monday. Dale told Reuters that after the court delayed certifying a proposed settlement, he negotiated with State Farm "to bring closure for coastal homeowners." State Farm had originally reported that it would no longer write new policies to insure Mississippi home owners when the settlement was delayed, but Dale said his the resolution would discourage State Farm, Mississippi's largest insurer, from leaving the state. The agreement makes millions of additional dollars available to insured homeowners in three coastal counties.
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