Insurance

Insurance Company’s Refusal to Settle Leads to $113 Million Jury Verdict in Construction Zone Injury Case

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Atlanta, Georgia – A construction zone injury collision from 2016 has resulted in a $113 million jury verdict after an insurance company refused to settle the complaint for policy limits. The verdict, awarded by Fulton County State Court jurors in three phases, includes more than 40% for attorney fees due to bad faith and frivolous defenses. However, the plaintiff’s counsel expects another judgment against the estate of the late Nationwide Affinity Insurance Company of America client as additional attorney fees are pursued. The collision occurred when defendant Ashley Claxton’s vehicle veered into a construction zone … Read more

Landmark Supreme Court Ruling Boosts Potential Payoff in $30 Million Lawsuit Against Truck Owner’s Insurance Company

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Tampa, Florida – A recent ruling by the Florida Supreme Court has potentially increased the compensation for an accident victim involved in a traumatic collision. Randy Willoughby, the victim, initially received a $4 million bad-faith settlement from his auto insurer and later won a $30 million jury verdict against the truck co-owner responsible for the crash. Willoughby’s legal team is now seeking to collect on the judgment through a bad-faith action against the truck owner’s insurance company. The court’s ruling centered around the interpretation of Florida’s collateral source rule. This rule disallows the owners of … Read more

Axis Insurance Co. Appeals Ruling in Tampa Bay Buccaneers Coverage Dispute: What’s at Stake?

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Indianapolis, Indiana – In a recent legal appeal, Axis Insurance Co. is seeking to overturn a decision made by a federal judge in Indiana, regarding an indemnity coverage dispute involving the Tampa Bay Buccaneers. The case involves a broker who sided with the football team, and now it will be up to the appellate court to review the lower court’s ruling. Details of the original case were not provided, but it is clear that Axis Insurance Co. is dissatisfied with the outcome. The insurance company is hoping that the appellate court will see things differently … Read more

Landmark Decision: Citgo Wins $49 Million in Insurance Dispute over Confiscated Venezuelan Oil

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Houston, Texas – A US jury recently awarded Citgo $49 million in an insurance dispute over Venezuelan oil that was seized by the government. The ruling comes as a significant victory for the oil company, providing some relief in the ongoing legal battle. The dispute began in 2017 when Citgo’s parent company, PDVSA, used the oil as collateral for a loan from Russian bank Rosneft. However, the US government imposed sanctions on Venezuela, effectively blocking the transfer of the oil, which was stored in Curacao at the time. As a result, Citgo turned to its … Read more