Insurance

Geico Total Loss Actual Cash Value Taxes California Settlement

This settlement resolves a class action against GEICO General Insurance Company, Government Employees Insurance Company, GEICO Casualty Company, and GEICO Indemnity Company. The complaints alleged that the companies breached their contracts by failing to pay the full actual cash value on first-party, total-loss vehicle claims to California insureds who submitted physical damage claims during the  Read more

Columbus Life Insurance Cost of Insurance Basis Class Action

With certain life insurance policies, the insurance company subtracts certain charges from an account value to pay for the policy each month. The complaint for this class action alleges that Columbus Life Insurance Company has for several years deducted too much from its customers’ account values, in breach of the terms of the policy.  Read more

Progressive Universal “Projected Sold Adjustments” Nebraska Class Action

When a vehicle is totaled in an accident, the insurance company must calculate the vehicle’s actual cash value (ACV) in order to determine the payout. The complaint for this class action alleges that Progressive Universal Insurance Company “systematically thumbs the scale” in its own favor by applying something called a Projected Sold Adjustment that the  Read more

Liberty Mutual Fire Insurance Manipulation of Xactimate Class Action

This class action, brought against Liberty Mutual Fire Insurance Company, concerns the calculation of actual cash value (ACV) for structural damage to buildings. The complaint alleges that, when figuring ACV payments for claims, Liberty Mutual subtracts depreciation from labor costs, when it should not.  Read more

State Farm Fire and Casualty Depreciation of Labor Alabama Settlement

State Farm Fire and Casualty Company is settling a class action that challenged its depreciation of estimated costs of labor and other non-material costs for the repair or replacement of damaged structures that were subtracted from its actual cash value (ACV) payouts to Alabama policyholders. The complaint alleged the company had breached their policies and  Read more

Anthem Denial of Claims for Prosthesis Settlement

Anthem, Inc. and Anthem UM Services, Inc. are settling a class action alleging that the companies or an Anthem subsidiary improperly denied claims relating to certain prostheses. The complaint alleged that the companies denied pre-authorization requests and post-service claims for microprocessor-controlled knee or foot-ankle prostheses as being “investigational” and “not medically necessary.” Anthem has now  Read more

Erie Insurance Nonmaterial Depreciation Ohio Settlement

Erie Insurance Company and Erie Insurance Exchange are settling a class action alleging that they improperly subtracted depreciation from costs of labor and other nonmaterial items on some homeowners’ insurance claims in Ohio.  Read more

Progressive Direct “Projected Sold Adjustments” Oklahoma Class Action

Progressive Direct Insurance Company uses a third-party vendor, Mitchell International, Inc., to help it determine the actual cash value (ACV) of vehicles that are totaled. But the complaint for this class action alleges that Progressive “systematically thumbs the scale” by applying Projected Sold Adjustments to the valuations of the vehicles, in order to reduce the  Read more

Progressive Direct Projected Sold Adjustments to ACVs Kentucky Class Action

When a vehicle is totaled in an accident, the insurance company must determine its actual cash value (ACV) in order to make a payout to the insured. But the complaint for this class action alleges that Progressive Direct Insurance Company unfairly reduces its payouts by taking the valuations provided by its vendor, Mitchell International, Inc.,  Read more

GEICO Underpayment of PIP Providers Settlement

This settlement resolves a class action about payouts for personal injury protection (PIP) insurance in Florida, against GEICO General Insurance Company, GEICO Indemnity Company, GEICO Casualty Company, and Government Employees Insurance Company. The complaint alleged that GEICO improperly interpreted the term “Billed Amount” in policy language and therefore underpaid providers and therefore only paid 80%  Read more