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Secured dismissal of a putative class action against a major property and casualty insurer alleging that interest must be paid on all claims not resolved within 60 days after report dates.

ClientMajor property and casualty insurer
Region
South Carolina
Description
Defended a major international property and casualty insurer in a putative class action alleging that insurers are required to pay interest, accruing from the date of loss, on all homeowners insurance claims not finally resolved within 60 days after the claim is reported. The case was originally filed in state court in South Carolina, but we removed under the Class Action Fairness Act, establishing that the controversy far exceeded $5 million. The case presented issues of South Carolina insurance and prejudgment interest law, among other subjects. In May 2012, the U.S. District Court granted a motion to dismiss with prejudice, holding that the legal duties upon which the class sued did not exist under South Carolina law. The U.S. Court of Appeals for the Fourth Circuit affirmed the dismissal in 2013.
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Videocast: DOL Fiduciary Rule Litigation Impacts
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Experience - Secured dismissal of a putative class action against a major property and casualty insurer alleging that interest must be paid on all claims not resolved within 60 days after report dates.
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