A $4 billion settlement reached for Maui wildfire victims is in jeopardy as insurance companies challenge its terms. They argue they should have the right to pursue separate legal action against the defendants to recover money paid out to policyholders. Victims' attorneys insist this would undermine the agreement and delay compensation. The dispute hinges on the legal process of subrogation, where insurance companies can seek reimbursement from responsible parties.
A settlement was announced last summer, but insurance companies held out, insisting that they should have the right to go after the defendants separately to recoup money paid out to policyholders.A few days before the
Victims' attorneys acknowledged that $4 billion wasn't enough to make up for what was lost but said the deal was worth accepting, given Hawaiian Electric's limited assets. Among the issues before the court is whether state laws controlling health care insurance reimbursement also apply to casualty and property insurance in limiting companies' ability to pursue independent legal action against those held liable.between victims' lawyers last week averted a separate trial over how to split the $4 billion between individual plaintiffs and others covered by a class-action lawsuit.
MAUI WILDFIRES SETTLEMENT INSURANCE SUBROGATION LEGAL DISPUTE
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