Insurance Bad Faith Claim – $1,250,000 Settlement
The firm of Venardi Elam LLP obtained a $1,250,000 confidential settlement for their clients in an insurance bad faith claim after the insurer denied their clients’ water damage and mold claim. They were the fifth lawyers to represent the clients, and the previous lawyer had recommended a settlement for less than $100,000, which was the estimated amount owed under the home owner’s policy. Venardi Elam LLP believed that the insurer had acted in bad faith, and the clients deserved to be compensated, so they properly funded the case, properly worked it up, and aggressively litigated the matter. After over 1 year of very hard-fought litigation, they obtained a $1,300,000 settlement for our clients.
Reference: Property Insurance Laws, Insurance Fraud
