$17M Jury Award Against American Family Mutual Reinstated
Midwest News • May 6, 2009
A Missouri appeals court has reinstated a $17 million jury award in a class action lawsuit against American Family Mutual Insurance Co. over aftermarket vehicle parts.
The Missouri Court of ...
Insurance Journal is not responsible for the content of the message below.
Subject: Aftermarket Parts
Posted On: May 6, 2009, 1:59 pm CDT
Posted By: Wade Ebert
Comment:
It was revealed in Avery that insurers base their actuarial analyses on potential losses using new OE parts.
Consequently premium rates are based on the same. Thereby - any savings based on repair choices belong to the vehicle owner/policy holder/premium payer - directly.
To provide less to insureds is fraud in my opinion and apparently the opinion of the courts as well.
Shall we discuss insurers' influence over third party losses?
If your policy pays for repairs made with mud and sticks and you hit me - what right do you / your insurer have to dictate the terms of my repair, i.e. that my repairs are to be affected by application of mud and sticks? The answer is: none.
These cars are made up of an amalgam of nano engineered - complex formulae and exotic materials. This ain't your Uncle Chuck's Chop Shop anymore. In fact - it has not been that in a very long time.
Anyone who thinks any differently, has as much business repairing passenger vehicles as do Cavemen and Gekkos.
Subject: Aftermarket Parts
Consequently premium rates are based on the same. Thereby - any savings based on repair choices belong to the vehicle owner/policy holder/premium payer - directly.
To provide less to insureds is fraud in my opinion and apparently the opinion of the courts as well.
Shall we discuss insurers' influence over third party losses?
If your policy pays for repairs made with mud and sticks and you hit me - what right do you / your insurer have to dictate the terms of my repair, i.e. that my repairs are to be affected by application of mud and sticks? The answer is: none.
These cars are made up of an amalgam of nano engineered - complex formulae and exotic materials. This ain't your Uncle Chuck's Chop Shop anymore. In fact - it has not been that in a very long time.
Anyone who thinks any differently, has as much business repairing passenger vehicles as do Cavemen and Gekkos.