Marchbanks v. Liberty Insurance Corp.
Court follows prior precedent and refuses to award penalty interest for pre-appraisal violations of the Prompt Payment of Claims Act, rationalizing that full and timely paymnet of an appraisal award precludes the insured's recovery of a judgment based on the insurer's liability, which is a necessary requirement to trigger the Act.
homeowner's insurance policy, hail storm, reinspection, appraisal, payment of appraisal award, Prompt Payment of Claims Act, pre-appraisal violation, recovery of judgment on insurer's liability
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