A news story today reports that State Farm is suspending the sales of new commercial or homeowner's insurance policies in Mississippi starting on Friday, apparently citing on-going litigation in the wake of Hurricane Katrina. You can read the full story here: State Farm.
Interestingly, the article mentions our friends the Broussards and Judge Senter.
Hmm, sounds just like what we talked about in class last week.
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Yes, this really illustrates the problem of "unintended consequences." The Mississippi settlement may have been good news for the homeowners who were impacted by Katrina, but it may be bad news for future generations of homeowners who have fewer options when trying to purchase insurance.
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