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Marchbanks v. Liberty Insurance Corp.

Court: Tx 14-Houston  08/23/2018  Appellate Court Rejects Insured's Prompt Payment of Claims Act Claim based on Full and Timely Payment of Appraisal Award

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.

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