Today, as many of you may know by now, the U.S. District court in Gulfport ruled that State Farm is liable to pay a Biloxi family $232,000 for damage caused by the hurricane plus another $2.5 million in punitive damages. Apparently, State Farm was found guilty of rejecting this family's claim without properly investigating it. Thus the big payout.
As happy as I am for the family, and others like them who may also receive compensation for their losses (and, believe me, I am thrilled, because there are far too many that have received nothing from their insurance companies despite paying for policies for years and years--and I have spoken with many and seen their pain), I am rather concerned about what this will do to an EXTREMELY fragile insurance situation down here.
I mention this in order to ask you to pray. If ever there was the potential of a win-lose situation, it is here and now. Pray that this won't be a short-term win and a long-term lose, not only for the Coast but for the entire state and country. The implications of this could really be huge for the economy!
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