Travelers Insurance Reaches Settlement With Policyholders Who Owned Property In Louisiana Damaged By Hurricane Katrina Or Rita PR Newswire NEW ORLEANS, April 8, 2013 NEW ORLEANS, April 8, 2013 /PRNewswire-USNewswire/ --The following is being released by the Hurricane Katrina-Travelers Settlement Administrator. A proposed Settlement has been preliminarily approved by the court in Arthur v. The Standard Fire Insurance Co. and The Travelers Indemnity Co., No. 09-7332 in the U.S. District Court for the Eastern District of Louisiana. The Complaint alleges that Travelers' handling of claims arising out of the events above caused Class Members to receive fewer benefits than those to which they were entitled. Travelers denies all claims and liability stated in the Complaint. Class Members are included if: (1) they had any loss, damage, destruction, or harm to property in Louisiana; (2) the loss or damage was related to Hurricane Katrina and/or Rita; and (3) at the time of the loss, they had an insurance policy with Travelers. Travelers will pay $2 million into a Settlement Fund that will provide money to eligible Class Members as described in the Settlement Agreement. Travelers also will pay separately attorneys' fees and expenses, and the costs for notice and administration. Class Counsel will request that the Court award attorneys' fees and expenses of $425,000. Some Class Members will receive a detailed notice in the mail about the Settlement and don't need to do anything to participate in the Settlement. Class Members who do not receive a notice in the mail must submit a claim by June 8, 2013. Class Members who wish to be excluded from the Settlement must submit a written request postmarked by June 8, 2013. If they exclude themselves, they will not receive any money and keep the right to sue Travelers attheir own expense. Class Members who do not exclude themselves give up the right to sue Travelers. Class Members who want to object but stay in the Settlement must submit a written objection postmarked by July 3, 2013. If the Settlement is approved and the objection is rejected, they will be bound by all Court orders. Class Members may attend the Fairness Hearing on August 2, 2013, at 9:30 a.m. at the U. S. District Court for the Eastern District of Louisiana, 500 Poydras Street, New Orleans, LA 70130. Class Members who want to speak at the hearing must submit a written request postmarked by July 3, 2013. The Court has appointed lawyers to represent Class Members, but they can also hire a lawyer to represent them at their own expense. For more information, visit www.KatrinaInsuranceSettlement.com, call 1-866-665-8475, or write to: Claims Administrator, PO Box 2980, Faribault, MN 55021-2980. Please do not contact the Court or the Clerk's Office. SOURCE Hurricane Katrina-Travelers Settlement Administrator Website: http://www.katrinainsurancesettlement.com
Travelers Insurance Reaches Settlement With Policyholders Who Owned Property In Louisiana Damaged By Hurricane Katrina Or Rita
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