The Settlement Benefits. What You Get
The Settlement Benefits. 7. What does the Settlement provide?
The Settlement Benefits. WHAT YOU GET
The Settlement Benefits. WHAT YOU GIVE UP
The Settlement Benefits. WHAT THE SETTLEMENT PROVIDES
The Settlement Benefits. What you Get if You Qualify
The Settlement Benefits. What You Get 5
The Settlement Benefits. 6. What does the settlement provide? If approved by the Court, Defendants will establish a Settlement Fund totaling $38,000,000. Settlement Class Member payments, as well as the cost to administer the Settlement, the cost to inform people about the Settlement, any attorneys’ fees and costs awarded by the Court, and any incentive award to the Class Representatives approved by the Court will also come out of this fund.
The Settlement Benefits. 7. What does the Settlement provide? Only named insureds on KFB automobile policies who had their automobile policies cancel for failure to pay premiums by the due date provided for in a notice form used by KFB from July 6, 2009 to November 15, 2021 are Members of the Settlement Class. For Members of the Settlement Class who satisfy the terms and conditions of the Settlement Agreement, the Settlement Agreement provides for two types of potential recovery: (1) a one-time payment of $10.00 or a pro rate share of $10.00; and (2) in certain circumstances an opportunity to have a claim that previously was denied because their policy had purportedly been cancelled using the “Dual Purpose Notice” reviewed as if the policy had not been cancelled. Settlement Class Members who submit a timely Claim Form and who KFB verifies that their policy cancelled at any time from July 6, 2009 to November 15, 2021 for failure to pay their premium in accordance with the due date provided for on the “Dual Purpose Notice,” KFB will provide a check in the amount of $10.00 (“Settlement Award”). For policies where there was more than one named insured listed and more than one Settlement Class Member submits a timely and otherwise valid Claim Form, the Settlement Award will be divided pro rata among the Settlement Class Members. In addition, Settlement Class Members who believe they would have had a valid claim for automobile policy coverage with KFB but for KFB’s use of the “Dual Purpose Notice” purportedly resulting in cancellation of their automobile policy for failure to pay the premium by the date stated on the “Dual Purpose Notice” when the claim for coverage arose within ten (10) days of the purported policy cancellation and there was no coverage with another carrier, can submit a written request in the form provided with the Class Notice requesting that KFB review the claim as if the policy had not been cancelled provided that the Settlement Class Member cooperates with gathering the necessary information to evaluate the claim. All available defenses, other than policy cancellation for failure to pay premium, that KFB might have with respect to determining whether any such claim should be paid and in what amount will be applicable, including but not limited to prior resolution of the claim through a Court proceeding, settlement and release, payment, accord and satisfaction, and all applicable statutory or contractual limitations. The only relief available to Settlement Class Me...
The Settlement Benefits. 7. What does the Settlement provide? If the Settlement is approved by the Court, the Defendant will pay $1,925,000 into a Settlement Fund, which shall be used to pay all Settlement expenses, including Notice and Other Administrative Costs; CAFA notice; the Fee Award; Service Awards; and Class Members’ Claims.
