State Farm Paying Attorney Fee for Miss. Insurance Commissioner | Democrats.com: "Thankfully, Attorney General Hood is hauling State Farm back to court to ensure that the insurance company lives up to its responsibilities to Mississippi policyholders.
Attorney General Hood is “asking that $50 million be set aside to pay Coast policyholders for Katrina damage and an unspecified amount for damages they suffered because State Farm has breached its agreement. He also is seeking an unspecified amount of punitive damages, designed to deter bad behavior.”
Good. That is the point of these kinds of lawsuits. First to make whole the parties who were injured. In this instance, that would be the citizens to whom State Farm refused to pay its obligations under the terms of their insurance policies.
The second point of these lawsuits is punishment. With big corporations like State Farm, Enron, and Halliburton, the only way to assist them in becoming good corporate citizens is to punish them in ways that they understand: depleting their profits.
Corporations are legal entities that are neither moral nor immoral. However, the men and women who run the corporations, those members of the boards of directors, they demonstrate their moral core—or lack thereof—through the policies they propose and implement. Their god is the Almighty Dollar. Eagerly, they bow down to the Almighty Dollar’s Altar of Greed."
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