Allstate Corp.

New York, NY: (Apr-16-07) Robert Weiss filed a lawsuit against Allstate Corp., the largest publicly-traded home insurer in the United States, claiming that the winds from the August 2005 hurricane blew his house down and the Northbrook, IL insurer owed him nearly $600,000. Winds are covered by private insurers, while storm surge is covered by federal flood insurance. Allstate argued that Weiss had already received $350,000 from federal flood insurance and more than $40,000 from the insurer for damage and living expenses. A federal jury ruled against Allstate Corp. in what seemed like a wind versus water case and awarded Robert Weiss more than $2.8 million for damage to his home from 2005's Hurricane Katrina. The verdict included a $1.5 million penalty for Allstate's delay in processing the claim. [REUTERS: WIND INSURANCE]

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Published on Apr-19-07