JOHN DOE Receives Seven Figure Settlement - $611,710
On May 17, 2006, John Doe was injured as a result of a motor vehicle accident when his vehicle was rear-ended on Jupiter Boulevard in Palm Bay, Florida. The owner and driver of the vehicle that rear-ended Mr. Doe had minimal bodily injury liability coverage of $10,000.00 which was paid in July 2007. Mr. Doe had under insured motorist coverage through the XYZ Insurance Company in the amount of $15,000.00. A settlement offer was made to the XYZ Insurance Company on August 22, 2007 offering to settle the underinsured motorist claim for the available limits of $15,000.00. Unfortunately, the XYZ Insurance Company did not fairly evaluate Mr. Doe’s claim and offered $3,000.00. A Civil Remedy Notice was filed with the Florida Department of Insurance with a copy to the XYZ Insurance Company putting them on notice that Mr. Doe had offered to settle his claim with the XYZ Insurance Company for the available coverage and that the XYZ Insurance Company had acted in bad faith by not fairly evaluating and compensating Mr. Doe for the injuries that he sustained in the accident.
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The Civil Remedy Notice was filed on November 10, 2008. This gave the XYZ Insurance Company an additional sixty (60) days in which time they could properly evaluate Mr. Doe’s claim and pay the available policy limits of $15,000.00. However, the XYZ Insurance Company disregarded the Civil Remedy Notice and failed to comply with Florida Statutes which require they respond to the Civil Remedy Notice within sixty (60) days. Therefore, the matter proceeded to litigation and on March 23, 2009, a jury awarded John Doe $611,710.31 in damages.
The matter was appealed by XYZ Insurance Company to the Fifth District Court of Appeals in Daytona Beach, Florida. The Fifth District Court of Appeals affirmed the verdict rendered by the Brevard County Jury on April 29, 2011.
Because the verdict exceeded the available policy limits of $15,000.00, a bad faith suit was filed against the XYZ Insurance Company. The bad faith case was scheduled to proceed to trial in November 2012. At mediation, on September 12, 2012, a seven figure confidential settlement agreement was reached.
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