Princeton Co. agrees to pay $20 million in insurance bad faith case.
In 2001, a road worker in Philadelphia, PA was left a quadriplegic after being hit by a drunk driver that had just left a tavern insured by Princeton Insurance Co. Although a jury awarded the injured man $75 million at the time of the crash, it was never paid due to the tavern having an insufficient policy limit of only $1 million. Princeton was sued for bad faith, accused of failing to negotiate a settlement within the policy’s limits after the initial verdict. To settle the insurance bad faith lawsuit, the company agreed to pay $20 million to the claimant. Learn more
Laws are the very bulkwarks of liberty; they define every man’s rights, and defend the individual liberties of all men
J.G. Holland
