[Download] "Cole v. State Farm Mutual Automobile Insurance Co." by Arizona Court of Appeals # Book PDF Kindle ePub Free

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eBook details

• Title: Cole v. State Farm Mutual Automobile Insurance Co.
• Author : Arizona Court of Appeals
• Release Date : January 21, 1985
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 66 KB

Description

Coles damages from her injuries exceeded the liability limits of both the Farmers and the Allstate policies. She collected $50,000 from Allstate. Burr Udall, the attorney for Farmers, initially wrote to Coles attorney five months after the accident, offering to settle for $14,500. Mr. Udall also stated in his letter that the Farmers insurance policy did not provide underinsurance coverage. However, Farmers eventually settled with Cole for $30,000, $15,000 more than the limits of its liability insurance. Mr. Udall, in his deposition, explained the source of the additional $15,000. He described two approaches which Arizona insurance companies adopted in order to comply with the underinsurance provisions of the 1981 amendment to A.R.S. § 20-259.01. Some companies interpreted the statute to mean that they were required to offer underinsured motorist coverage at such time as the policy came up for renewal or when a new policy was issued after the effective date of the statute. Other companies, Farmers being one, elected to "roll on" underinsurance coverage on all policies in effect at the date the statute became effective. That is, Farmers considered that all policy holders automatically had underinsurance motorist coverage as of the effective date of the statute, but they did not attempt to collect any additional premiums at that time; when the policy came up for renewal, they would then inform the policy holder that underinsurance motorist coverage was available at an additional premium.

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