Ind. OKs Diminished Value Auto Case

NU Online News Service, Aug. 6, 3:15 p.m.EDT?In a decision that departs from the actions of moststates, Indiana's highest court will allow a class action lawsuit,based on the theory of diminished value in automobile crash cases,to proceed to trial.[@@]

In Allgood vs. Meridian Security Insurance Co., theIndiana Court of Appeals reversed a lower court ruling dismissingthe plaintiffs' suit. The plaintiffs, the suit alleged, were owedmoney because of their insurer's refusal to recognize that theirproperty was devalued as a result of the accident.

Continue Reading for Free

Register and gain access to:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.