Woman Awarded $1.6B for Insurance Fraud
TUSKEGEE, Ala. (AP) - A jury awarded $1.6 billion to a woman who paid for a nonexistent life insurance policy for nearly five years, a verdict that could be sharply reduced under a state law capping damage judgments.The Macon County jury verdict Thursday went against Southwestern Life Insurance Co. and agent James Richard Perry, who were ordered to pay $10 million each in compensatory damages and $800 million each in punitive damages to Carolyn Whittaker.
She sued over a $25,000 policy and monthly payments of about $50 that she made even though the policy had lapsed.
Southwestern Life called the verdict "clearly inappropriate" and said it would appeal.
You gotta love juries. Details here from the AP via Findlaw.com.