Punitive Damage Award Against Insurance Company Reversed by Supreme Court as Excessive
Bad Faith,Damages,Fraud,Insurance Issues,Punitive Damages,Settlement Agreement
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When State Farm Insurance refused a proposed settlement for the amount of its policy limit for a law suit arising out of an automobile accident, the matter went to trial and a jury returned a verdict against State Farm’s insured in the amount of three times the policy limit. State Farm paid the entire judgment [...]
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Liquidated damage assessment against contractor
Damages - Liquidated,Federal Government Contracts,Liquidated damages,Punitive Damages
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When the amount of damages is difficult to predict, a liquidated damages clause will generally be upheld unless the court determines that the clause was intended to be a penalty rather than liquidated damages. In Safeco Credit v. U.S., 44 Fed.Cl. 406 (1999), a contractor was assessed damages by the Department of Navy for late [...]
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