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Bad Faith Insurance Lawsuit


Infinity Property and Casualty Corp. agrees to $13 million personal automobile liability insurance settlement.


Bad Faith Insurance

Birmingham, AL: (Feb-11-08) A national provider of personal automobile insurance, Infinity Property and Casualty Corporation, brought charges against one of its insurance company subsidiaries, accusing them of bad faith in the handling of a 1993 Florida personal automobile liability claim. Sources close to the case revealed that the related parties had come to a memorandum of understanding and reached a settlement, resolving the dispute. As part of the agreement, the lawsuit was resolved with a $13 million payout. Company officials said that as a result of this settlement, Infinity will accrue an additional $9.5 million in the fourth quarter of fiscal year 2007. [PR NEWSWIRE: BAD FAITH INSURANCE]


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