We've known from day one that AM's policy on the boat was limited to $500K, and AM had maxed out his own Umbrella Policy on the claim he made for Gloria (and stole for himself).
The boat policy underwriter (Progressive), would not make the $500K payment without the Plaintiff signing its release that this payment satisfied its claim against AM which is a standard insurance settlement clause.
More important, this never prevented the estate of MB to use SC law to call on the Umbrella of Parker Convenience Store (Parker Corp) to cover for the under-insured AM, settling its claim at $15M.
I think the parties here long ago realized they might go decades trying to find personal assets of AM which IMO, were pledged to his attorneys, from the beginning. JMO
Disbarred Lowcountry attorney Alex Murdaugh has been dropped from a wrongful death lawsuit following an insurance payout to a teen victim’s family.
www.live5news.com
10/15/24
Court documents confirm the family of Mallory Beach will receive a $500,000 payout from Murdaugh’s insurance company.
Murdaugh was one of several named in the wrongful death lawsuit filed by Beach’s family. Beach was 19 when she died in the boat crash on Feb. 24, 2019, when the boat in which she was a passenger struck the Archer’s Creek bridge near Parris Island.