Scottsdale Insurance Dropped from Katrina-Related Lawsuit
Scottsdale Insurance Co. announced the company was incorrectly named in a lawsuit that accused several insurance companies of overcharging the U.S. government's flood insurance program related to Hurricane Katrina. The plaintiffs acknowledged the mistake in an Amended Complaint filed on June 22 in the U.S. District Court for the Eastern District of Louisiana (Case No. 2:06-cv-4091).
According to the Amended Complaint, American Reliable Insurance Company of Scottsdale was mistakenly named as Scottsdale Insurance Company in the original complaint.
Scottsdale reports it has never issued standard flood insurance policies as a "Write-Your-Own" Program insurer pursuant to the National Flood Insurance Program and so should never have been included in the suit.
Source: Scottsdale Insurance Co., www.scottsdaleins.com
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