2 ms·
"The two signed an arbitration agreement in March of 2021, agreeing to settle their dispute. Roughly two months later, an arbitrator awarded M.O. $5.2 million,
by mikece 4y ago
"The two signed an arbitration agreement in March of 2021, agreeing to settle their dispute. Roughly two months later, an arbitrator awarded M.O. $5.2 million, saying the sum 'would fairly and justly compensate' her."
So the real story here is that GEICO required arbitration in this case, the woman agreed to that, the arbitrator decided the woman should be given $5.2 million, and now GEICO is upset at the outcome of the arbitration? At first I thought this was a stupid and frivolous lawsuit but now after I learn more I think her award should be increased to $10.4 million because GEICO are a bunch of idiots.
- lupire 4y agoWhere do you see Geoco was involved in the $5.2M arbitration? The news coverage about this case has been quite confused, as is common in insurance cases, like the "aunt sure her nephew" story. The parties arbitrated with each other, possibly in an attempt to scam GEICO. GEICO tried to preemptively scuttle it, as extra protection against a potential claim. GEICO's involvement as an insurer is separate. They have a separate lawsuit regarding whether the insured has a valid claim for coverage. People are spinning this as "GEICO forced arbitration and got screwed", but that's not what happened at all. The reason GEICO wasn't allowed to intervente in the arbitration was because the arbitration didn't involve GEICO in the first place!
- deleted 4y ago[deleted]
- aahortwwy 4y agoYeah, the arbitration was between the woman and the insured. GEICO's basically trying to object to the amount of damages that the arbitrator awarded the woman. https://webcache.googleusercontent.com/search?q=cache:n0rTWeNPqaAJ:https://www.courts.mo.gov/file.jsp%3Fid%3D187183+&cd=1&hl=en&ct=clnk&gl=us https://webcache.googleusercontent.com/search?q=cache:n0rTWe...