Katrina money blows into three
State Farm today settled homeowner claims relating to Hurricane Katrina, according to this report. The biggest home insurer in the U.S. will pay $130 million right away and may fork over several hundred million more depending on how many of about 35,000 eligible policyholders participate.
Go here for information on a $2.5 million punitive damages verdict that, Blawgletter guesses, helped push the settlement to conclusion.
The GEICO Gecko still had no comment.