Mississippi Attorney General Jim Hood said Tuesday he plans to sue State Farm Fire and Casualty Co. because he believes the insurer failed to honor the terms of its agreement for a mass settlement of policyholder claims over Hurricane Katrina damage.
Hood, who agreed in January to drop State Farm from a civil suit his office filed less than a month after Katrina, said his office is in the “final stages” of drafting a new complaint that accuses State Farm of breach of contract.
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