Information on Defective Drywall

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Correspondence issued by the Government Accountability Office with an abstract that begins "GAO found that numerous claims for damage have been addressed through legal settlements partly paid by commercial insurance reimbursements. Three of the four insurers with whom GAO spoke contributed to legal settlements by paying for CGL claims stemming from lawsuits against their policyholders, and one of these insurers also made payments for CGL claims separate from legal settlements. The legal settlements from defective drywall lawsuits involve hundreds of companies in the drywall supply chain (including importers, suppliers, and builders), and most of the lawsuits have been consolidated under ... continued below

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United States. Government Accountability Office. July 31, 2013.

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Description

Correspondence issued by the Government Accountability Office with an abstract that begins "GAO found that numerous claims for damage have been addressed through legal settlements partly paid by commercial insurance reimbursements. Three of the four insurers with whom GAO spoke contributed to legal settlements by paying for CGL claims stemming from lawsuits against their policyholders, and one of these insurers also made payments for CGL claims separate from legal settlements. The legal settlements from defective drywall lawsuits involve hundreds of companies in the drywall supply chain (including importers, suppliers, and builders), and most of the lawsuits have been consolidated under multidistrict litigation in the United States District Court for the Eastern District of Louisiana. One of the legal settlements involves one of the two primary manufacturers of defective drywall and provides an uncapped amount of funds to address damage to affected homes, as well as $30 million for other expenses. This manufacturer's settlement is part of a group of settlements that guarantees more than $350 million to assist affected home owners, with the potential to increase."

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Government Accountability Office Reports

The U.S. Government Accountability Office (GAO) is an independent, nonpartisan agency that works for the U.S. Congress investigating how the federal government spends taxpayers' money. Its goal is to increase accountability and improve the performance of the federal government. The Government Accountability Office Reports Collection consists of over 13,000 documents on a variety of topics ranging from fiscal issues to international affairs.

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  • July 31, 2013

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  • June 12, 2014, 7:50 p.m.

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United States. Government Accountability Office. Information on Defective Drywall, text, July 31, 2013; Washington D.C.. (digital.library.unt.edu/ark:/67531/metadc298253/: accessed June 23, 2018), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.