State Farm Pays Nearly $30 Million in Miss. Katrina Claims

State Farm Insurance Co. agreed to voluntarily re-evaluate Mississippi Hurricane Katrina slab cases in April, 2007, and has paid more than $29.8 million in additional claims payments since the re-evaluation process began.

As of Aug. 13, 934 affected Mississippians in Harrison, Hancock and Jackson counties requested re-evaluation of slab claims.

Of those requests, State Farm reevaluated 904 claims and made an additional $23.7million in settlement offers to those policyholders. The company has paid out $13.9 million to 552 policyholders who have accepted the offer.

In regard to non-slab claims, 2,660 policyholders have requested reevaluation. The company reevaluated 2,579 of those claims and made offers totaling over $23.8 million.

Some 1,591 policyholders accepted those offers and have been paid over $15.9 million.

“As I have stated before, there is no one process that is going to work for everyone and some individuals are going to have to endure lengthy litigation. However, as these numbers show, people are being helped everyday,” said Commissioner of Insurance George Dale.

Source: Mississippi Insurance Department