Banner Supply Company is currently facing a class action lawsuit, which will attempt to include all Florida homeowners who bought drywall from the distributor. The class action suit follows Banner Supply’s recent loss of a Chinese drywall lawsuit. The class action suit alleges Banner knew the drywall was defective in 2006 and did not warn consumers.
According to Lawyers and Settlements, Louisiana Governor Bobby Jindal recently signed legislation preventing insurance companies from cancelling homeowners’ insurance coverage as a result of policyholders filing claims based on tainted or defective Chinese drywall.
Louisiana Insurance Commissioner Jim Donelon said if the insured has been with the insurance company for more than three years, the insurer will not be able to cancel policies related to tainted drywall that is manufactured overseas.
Due to large public outcry when consumers discovered that Chinese manufacturers could not be held legally accountable under United States law for the defective drywall — the federal government stepped in. Lawmakers are in the process of passing a bill known as the Foreign Manufacturer Legal Accountability Act. The Act will require foreign manufacturers of “covered products” to designate a registered United States agent to receive service of process on behalf of their companies. This also means that foreign manufacturers can be sued in the United States for any civil action related to the products.
Lawmakers are currently trying to establish rules in Chinese drywall settlements but for now victims of poor Chinese drywall have won a few more rights and can keep insurance coverage.
According to Lawyers and Settlements, Louisiana Governor Bobby Jindal recently signed legislation preventing insurance companies from cancelling homeowners’ insurance coverage as a result of policyholders filing claims based on tainted or defective Chinese drywall.
Louisiana Insurance Commissioner Jim Donelon said if the insured has been with the insurance company for more than three years, the insurer will not be able to cancel policies related to tainted drywall that is manufactured overseas.
Due to large public outcry when consumers discovered that Chinese manufacturers could not be held legally accountable under United States law for the defective drywall — the federal government stepped in. Lawmakers are in the process of passing a bill known as the Foreign Manufacturer Legal Accountability Act. The Act will require foreign manufacturers of “covered products” to designate a registered United States agent to receive service of process on behalf of their companies. This also means that foreign manufacturers can be sued in the United States for any civil action related to the products.
Lawmakers are currently trying to establish rules in Chinese drywall settlements but for now victims of poor Chinese drywall have won a few more rights and can keep insurance coverage.
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