Ex-Tulsa mayor says $4M payout for lost ring is inadequate

TULSA, Okla. – The former mayor of Tulsa, Oklahoma, is suing an insurance company and broker because she says the $4 million she received for a lost blue diamond ring isn’t enough.

The Tulsa World reports that Kathy Taylor’s federal lawsuit filed in Tulsa seeks more than $75,000. It alleges AIG Property Casualty Co. paid $4 million for the loss, but hasn’t covered the ring’s full value.

The insurance broker, Integro USA Inc., filed a motion to dismiss the case in which it says Taylor and her husband rejected a policy that would have covered any increase in the ring’s value.

Neither Taylor nor attorneys for the companies returned the newspaper’s phone calls seeking comment.

Taylor says she lost the ring while vacationing in California when she took it off to wash her hands and forgot to put it back on her finger.

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Information from: Tulsa World, http://www.tulsaworld.com