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Hurricane Katrina Insurance Class Action

New Orleans residents have filed a class action lawsuit against AIG and its subsidiary, Audubon. The class claims the insurance companies failed to help policyholders in desperate need of assistance after Hurricane Katrina and failed to provide any way to initiate a claim or provide temporary disaster relief included under their policies. The class action suit has been filed on behalf of 400,000 of Louisiana's FAIR plan policyholders.