New Orleans Jury Awards Grocery Store $21MM for Damages

11/17/2008 | Unfair Insurance Practices/Bad Faith

In what is being reported as the largest verdict in Louisiana or Mississippi for post-Katrina claims handling, a New Orleans jury awarded a grocery store $21 million dollars for damages his stores received in the hurricane aftermath.
The jury heard evidence that United Fire & Casualty Insurance Co. acted in bad faith by delaying paying the claim becuase of the financial stress it was under.  Attorney Phillip Franco represented the store owner and said the jury's decision came after hearing "that this insurance company delayed and refused to make payments because of the financial stress put on that company because they didn't purchase enough reinsurance to cover the extent of the catastrophic losses caused by Katrina."