Saturday, October 13, 2007

Jury sides with Allstate in billion dollar lawsuit

The jury decided that the insurer was not responsible for the two-year delay in settling a woman's claims. If she did deserve any money from Allstate, the jury did not think it was more than a billion dollars. I can not understand why trial lawyers think they can get that much money. I read about this at AJC, and I'm not surprised the jury sided with Allstate on this one. The trial lawyers thought they would have a better chance if it was a class action. They were asking for $475 million for mental anguish and $950 million in punitive damages, for 1 person.

Does anyone else think that those numbers are outrageous? The jury did. The lawyers say that Allstate is greedy, maybe the lawyers should take a look in the mirror? I do think insurance companies have an obligation to be honest, but asking for that much money seems a bit over the top to me.

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