General Contractor Overhead & Profit Class Action
Beginning in 2004, NP and its co-counsel filed a series of nationwide class action lawsuits on behalf of millions of insureds against the largest insurance companies in the United States, alleging the defendant property insurers failed to properly pay “contractor overhead and profit” on property damage claims. NP’s leadership on these cases resulted in the taking and defending of dozens of depositions all across the country, the review, analysis, and synthesis of millions of pages of insurance company documents, and arguments in countless court hearings.
As a result of NP’s efforts, all seven families of property insurer defendants agreed to settlements requiring them to make supplemental payments to qualifying class members and change certain practices with respect to adjustment of property damage claims. Collectively, the estimated benefits to the several classes of clients exceeded $1 billion. All seven settlements were finally approved by the Circuit Court of Miller County, Arkansas.
NP partners Michael Angelovich and Cary Patterson and associate Chad Ihrig led the prosecution of these cases.