Colorado Accident & Injury Law Part IX: Appropriate Prejudgment Interest on a Judgment in an Insured Motorist Case
- The Supreme Court in the case of USAA v. Parker, O7SC524 upheld the Court of Appeals ruling in USAA v. Parker, P.3d, No. 05CA2361, 05CA2569, slip op. (Colo. App. May 3, 2007), that the “personal injury statute” controls the calculation of prejudgment interest in such cases and thus Petitioner USAA, Respondent Richard Parker’s uninsured/underinsured motorist (UM/UIM) insurer, was liable to Parker for prejudgment interest on his UIM claim at rate of nine percent per annum from the date of Parker’s accident as mandated by that statute.
- The appellate Court reject the argument that the interest should be calculated pursuant to C.R. S. 5-12-102 at 8 percent instead of 9 percent.