A landmark Katrina insurance case, Corban v. USAA, has been settled on undisclosed terms, both parties confirmed Wednesday.
USAA attorney Greg Copeland, Corban attorney Judy Guice and USAA’s public relations office all offered the same comment: “The case was settled to the satisfaction of both parties.”
They said they would be unable to elaborate.
The lawsuit, filed by Long Beach policyholders Margaret and Magruder S. Corban, had been scheduled for trial in circuit court Monday.
The Corbans requested, and both parties agreed, key legal issues needed to be settled before trial.
Circuit Judge Lisa Dodson sent the case to the Mississippi Supreme Court for answers in April 2008 against a backdrop of federal court rulings that supported insurance companies.
Hundreds of policyholders settled their cases based on an erroneous 2007 ruling from the 5th U.S. Circuit Court of Appeals.
The federal appeals court decided “anti-concurrent cause” language in insurance policies excludes wind from coverage when storm surge contributes to the loss.