State Farm Fire and Casualty Co. has settled lawsuits with dozens of families who suffered losses during Hurricane Katrina. In one of the complaints, the plaintiff alleged that State Farm engaged in a criminal enterprise with its bank and its vendors to deny policyholders money they were owed for hurricane-related wind damage. State Farm denies the allegations, but the insurance company says that it is pleased to resolve the claims with its policyholder. The settlement terms are confidential.
Read the Associated Press story in the Chicago Tribune.