LAWSUITS NEWS & LEGAL INFORMATION
Allstate Settles Bad-Faith Insurance Suit for $4 Million
This is a settlement for the Bad Faith Insurance lawsuit.
Allstate Insurance Co, has agreed to settle a bad-faith insurance lawsuit brought by Metropolitan Business Management, a property management firm, for $4 million.
MBM alleged that Allstate refused to defend it in a lawsuit over a Malibu property sale. The buyer of the Malibu property had alleged that MBM and conspired with the seller to prevent the sale of the property by making a false beneficiary demand. Allstate refused to defend MBM in the lawsuit because it claimed that their insurance policy did not cover misrepresentation claims. However , it was later determined that MBM was "clearly covered."
SEPT-10-09: Allstate Settles Bad-Faith Insurance Suit for $4 Million [VENTURA COUNTY STAR: WESTLAKE FIRM WINS $4 MILLION FROM INSURER]
Published on Sep-10-09
MBM alleged that Allstate refused to defend it in a lawsuit over a Malibu property sale. The buyer of the Malibu property had alleged that MBM and conspired with the seller to prevent the sale of the property by making a false beneficiary demand. Allstate refused to defend MBM in the lawsuit because it claimed that their insurance policy did not cover misrepresentation claims. However , it was later determined that MBM was "clearly covered."
SEPT-10-09: Allstate Settles Bad-Faith Insurance Suit for $4 Million [VENTURA COUNTY STAR: WESTLAKE FIRM WINS $4 MILLION FROM INSURER]
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