August, 11 2006

INJURY SETTLED FOR SEVEN TIMES THE POLICY LIMIT

Thomas Casciato, a clerk in the Bridgeport architectural firm of Fletcher & Thompson, suffered leg injuries in a November 2003 head-on collision in Shelton. Infinity Insurance Co., of Birmingham, Ala., represented the defendant driver, Luciano Marini, through its captive law firm, Levine & Sharp of Hartford. Infinity did not accept an offer of judgment for the $100,000 policy’s limits in a timely manner, said Casciato’s lawyer, Joel T. Faxon of New Haven’s Stratton Faxon.

According to Faxon, in the month before the June 20 trial date, Infinity offered $150,000 to settle, which Faxon rejected. Casciato’s medical costs were over $153,000 and he required two surgeries. A Bridgeport resident, Casciato is single and in his late 20s.

The parties mediated before New Haven solo Gerald Cooper for a half day, and Cooper placed a $750,000 value on the claim. Casciato’s expert witness, Dr. Sanda Tomak, was expected to testify that Casciato would need surgeries to remove hardware, and a total knee replacement in the future. The plaintiff also claimed $35,000 in past lost wages. Vocational expert Jeffrey Blank of Monroe was to testify that Casciato’s future wages would be reduced by $630,000. In addition, the plaintiff alleged recklessness, which could result in treble damages.

The deadline for settlement was June 16, at 5 p.m. Infinity asked for confidentiality at 4:30 p.m., which Faxon said he refused. At ten minutes before five, Infinity agreed to settle for seven and a half times its policy limit, Faxon said. “This saves my client three years of litigation pursuing a bad faith claim,” Faxon said.

Although the present value of the structured settlement is $750,000, the annuities will generate about $1.3 million over Casciato’s expected lifetime.

Lawyers for Infinity in Hartford and Birmingham declined comment.