Cases Where Recovery Exceeded Policy Limits
While it is usually accepted as a given fact that an injured person is “bound” by the policy limits of the adverse party, that is not always the case. On a number of cases, we were actually able to obtain significant recoveries over and above the liability carrier’s policy limits.
$700,000 OVER POLICY LIMITS
James v. Farhood: This is a case listed in our Verdicts and Settlements section, where a verdict of over $1 Million was sustained appeal after a trial on a “soft tissue” case with no surgery or fracture. There was a co-Plaintiff on the case as well. While the policy limits were $1.5 Million total, the combined sustained verdict for both Plaintiffs, together with the interest, amounted to nearly $2.2 Million. State Farm ended up paying a combined $700,000 over its policy limits to our client and the co-Plaintiff on a case where they only valued the injuries at a maximum of $50,000.
SIGNIFICANT CONFIDENTIAL AMOUNT OVER POLICY LIMITS
Deshommes v. Hussain: This is another case listed in our Verdicts and Settlements section, where a the majority of a verdict of over $1 Million was sustained appeal after a trial on a “soft tissue” case, with no surgery or fracture. A $100,000 policy tender prior to verdict was rejected by us as untimely, resulting in the $1.2 Million excess verdict. Initial valuation by the carrier was $7,500 up until time of trial. New Jersey Manufacturers Insurance Co. was forced to then settle our bad faith lawsuit in that matter for an additional significant confidential amount.
SIX FIGURE SUM OVER POLICY LIMITS
Trane v. Singh (Nassau County Case): GEICO’s insured was forced to pay a six figure sum from his own pocket, due to the untimely tender of the $300,000 policy, in order for us to agree to settle the case.
$125,000 OVER POLICY LIMITS
Holder v. Angelastro: After we took a $877,000 verdict, on a soft tissue “threshold” case, against a State Farm insured, with only $100,000 coverage, in order to avoid a bad faith claim, State Farm was forced to pay $225,000 ($125,000 more than the policy), and the client ended up with $250,000, together with the settlement from another carrier. State Farm incorrectly valued the case at only $25,000.
THOUSANDS OF DOLLARS OVER POLICY LIMITS
Mays v. Lane: In this case, we rejected a six figure GEICO policy tender as untimely, even though it was offered many months before trial. In that case, the insured was forced to retain a personal attorney and pay thousands of dollars out of his own pocket, on top of the GEICO policy tendered, not to mention the thousands of dollars GEICO incurred in additional litigation costs.
$75,000 OVER POLICY LIMITS
M.N. v. V.A. (Nassau County Case): GEICO’s insured has been forced to pay an additional $75,000 out of their own pockets, over the policy limit tender, in order to settle a case where liability was vigorously disputed.