Texas Court Lowers Record Mold Award
An appellate court has reduced a monetary award in the seminal mold-related insurance claim case in the country–the $32 million jury verdict in May 2001 to Melinda Ballard of Texas against Los Angeles-based Farmers Insurance Group that sent shock waves throughout the insurance industry.
On Dec. 19, the Austin-based 3rd District Court of Appeals threw out $17 million in punitive damages and mental anguish from the earlier verdict, ruling that Farmers Insurance was only responsible for $4 million in actual damages.
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.