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.
Michael established The Sawaya Law Firm in 1977 and built it into one of the largest personal injury law firms in Colorado, with more than 20 lawyers and 80 staff members serving clients from five offices located in Denver, Greeley and Colorado Springs. Throughout its history, the firm has stayed true to its 12 Core Values, which emphasize excellence in advocacy and a commitment to providing outstanding client service. Michael studied sociology and economics as an undergraduate student at The Colorado College, and he earned his law degree from the Texas Tech University School of Law. In addition to being involved in several legal and community organizations, Michael enjoys playing music and cooking, and he has written a book on spiritual matters.