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Interested in what's going on in the insurance claims industry? ClaimCoach is committed to keeping you informed. Timely articles appear as they develop across a variety of related industries. To view an article you will need the Adobe Acrobat Reader Application.
Please check back from time to time . . . NEWS FLASH is updated periodically to keep you informed!
Ruling on vehicle damage being applied to all insurers…Atlanta Journal Constitution
In response to a landmark court decision, Georgia's insurance commissioner
said Thursday he will direct all auto insurers --- not just State Farm ---
to reimburse policyholders for the diminished value of cars damaged in
collisions.
Ruling: Insurers liable for vehicles' lost value
Atlanta Journal Constitution
In a groundbreaking ruling, the Georgia Supreme Court said Wednesday that an auto insurer not only has to reimburse motorists for car repairs, but also for the diminished value of cars damaged in collisions.
State Farm Mutual Automobile Insurance Company v. Mabry et al.
This ruling states that physical damage resulting from a covered event can reduce the value of a vehicle, even if repairs return it to pre-loss condition in terms of appearance and function
Georgia Supreme Court
Florida Says Using Non-OEM Parts May Constitute Unfair Trade Practice
On October 31, 2001, the Florida Dept. of Insurance issued a memorandum stating that the use of non-OEM parts has not consistently proven to return repaired vehicles to their pre-accident condition
Collision Week
1.1 Million Vehicles were stolen in 2000...
and more than 30% are never recovered according to the National Insurance Crime Bureau.
State Farm Loses Latest Appeal in Non-OEM Parts Case
State Farm has lost its latest appeal of the $1.2 billion after-market parts class action lawsuit. State Farm now says it will appeal the verdict to the Illinois Supreme Court.
MetLife and Travelers revise aftermarket crash parts rules.
MetLife Auto & Home and Travelers Property Casualty have revised their positions on aftermarket crash parts and suspended their use in vehicle repairs until further notice.
Lawsuits allege popular valuation method lowballs the insured.
According to documents submitted in the discovery process for the case Buratovich vs.Farmers Insurance Exchange and Farmers Insurance Co. of Arizona and CCC Information Services Inc, Farmers' chose to use CCC Information Services valuations solely because they resulted in the lowest payout for total loss claims...
Despite costly State Farm verdict many insurers continue use of aftermarket parts.
Often insurers will point to the CAPA certification on the aftermarket parts they insist be used. CAPA certified parts should not be confused with original equipment manufacturer (OEM) parts...
Auto insurers up against conspiracy and fraud charges.
Lawsuit charges Allstate, CNA, GEICO, Liberty Mutual, Safeco, State Farm, and USAA of conspiring to defraud motorists.
Georgia Court Orders State Farm to Assess, Pay Diminished Value Claims.
A Georgia Court order has ruled that State Farm, by Georgia law, is required to assess, and if applicable pay, for diminished value in first party physical damage claims.
Lawsuit Alleges Farmers Policyholders Referred to Shops Using Sub-standard Parts.
Bloomberg News has reported that a lawsuit was filed February 26 against Farmers Insurance Group by Farmers policyholders claiming that they were referred to body shops that use sub-standard parts.
Washington State Certifies 27-State Class Action Lawsuit Against USAA.
A Superior Court Judge in Washington State has certified a 27-state class action lawsuit against USAA for not paying inherent diminished value on policyholders' vehicles after repairs.
Country Companies Settles Class Action Suit in Illinois for $6.3 Million.
Country Companies, a Bloomington, IL insurer, has settled a class action lawsuit for the use of non-OEM parts for $6.3 million.
Illinois Court Certifies Class Action Suits Against Allstate, State Farm for Inherent Diminished Value.
An Illinois Court has certified two class action lawsuits against Allstate and State Farm for breach of contract against their policyholders.
Experian Launches Auto History Report Service.
Experian, a leading provider of global information solutions, announced the launch of its new auto History report (www.e-autohistory.com) an online service for car buyers and sellers.
Farmers Case Focuses on "Circle of Deceit"
A lawsuit filed in Los Angeles doesn't just focus on the use of non-OEM parts but also against the Farmers Circle of Dependability program and the shops doing repairs using substandard replacement parts and repair methods.
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