A Jury reached a Verdict declaring that the evidence did not warrant Bad Faith statutory penalties in Download One River Place Condominium Association, Inc. v. Axis Surplus Insurance Co. (E.D. La. Opinion filed 08.04.09).
A lesson taught by the Insurance Company in this case is that it was not content to leave the introduction of all evidence to the Policyholder, One River Place Condominium Association, Inc., after Axis denied part of One River's Hurricane Katrina Property Damage Claim. "Axis set forth evidence that it did not delay in paying the interior damages while inspecting the exterior of the property," that it paid an additional amount for a particular type of damage once it confirmed that the original tally of that particular amount was too low, that it paid depreciation even before it was due under the Policy, and presented evidence, said the Court, that the Policyholder "withheld providing ... documents required to process the claim." Download One River Place Condominium Association, Inc. v. Axis Surplus Insurance Co. (E.D. La. Opinion filed 08.04.09), attached Official Slipsheet Opinion at 5.
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