AP – State Farm Fire & Casualty Co. agreed Tuesday to settle hundreds of lawsuits by policyholders whose homes were devastated by Hurricane Katrina, a person with direct knowledge of the settlement told The Associated Press.
Terms of the deal were not immediately announced Tuesday. The insurer’s agreement with Mississippi Attorney General Jim Hood and lawyers for several hundred policyholders was expected to resolve a civil lawsuit that Hood filed against the company for refusing to cover damage from Katrina’s storm surge nearly 17 months ago.
