This class action motion sought approval of a proposed settlement and class counsel fees concerning denied travel insurance claims by TD Home and Auto Insurance Company during the early COVID-19 pandemic, specifically regarding denials based on the availability of non-monetary compensation (credits/vouchers).
The parties reached a settlement of $5.1 million, with $4.8 million available for class members.
The settlement provides $100 for cash-refunded claims and at least 40% of the value for non-cash-refunded claims, allowing class members to retain travel credits.
The court found the settlement fair, reasonable, and in the best interest of the class, noting the risks of litigation and the absence of objections.
Class counsel's request for fees, based on a 21.5% contingency rate (reduced to 17% for the class after defendant's contribution), was also approved as fair and reasonable, proportionate to the settlement size, and reflecting the work and risks undertaken.