Mississippi Attorney General Jim Hood Sues State Farm for Breach of Contract
By admin - Posted on July 11th, 2007
June 11, 2007 -- Jackson, Ms – Mississippi Attorney General Jim Hood today filed, in the Circuit Court of Hinds County, a complaint against State Farm Fire and Casualty Company for bad faith breach of contract related to the settlement agreement the two parties entered into on January 23, 2007.
“We filed this lawsuit in an effort to help the more than 30,000 Gulf Coast policyholders who have suffered for nearly two years because of State Farm’s inaction,” said Attorney General Jim Hood.
“The State Farm reevaluation procedure through the Department of Insurance has only resulted in a little more than 300 new offers. That does not comply with the terms we have with them in black and white. We have a state court order that they signed and then backed out on. If they will breach a clear agreement with a State, then this is further evidence that they have breached their own policy provisions with their insured on the Coast.”
Attorney General Hood charges that State Farm has violated several specific terms of the settlement agreement, including their failure to:
• make “an offer of settlement to the policyholder based upon criteria and guidelines approved by the United States District Court for the Southern District of Mississippi”
“We are at this point today because State Farm has intentionally and in bad faith acted with disregard toward the rights of its policyholders,” said Attorney General Jim Hood. The complaint seeks compensatory and punitive damages from State Farm.
Source: Mississippi Attorney General
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