Reported 12 months ago
Progressive has agreed to pay $48 million to settle a class action lawsuit in New York, where policyholders accused the insurer of undervaluing the claims of drivers whose vehicles were wrecked. The lawsuit alleged that Progressive used third-party software that underestimated the value of the vehicles before they were declared total losses, resulting in artificially reduced payouts. The settlement covers New York policyholders from July 28, 2015, onwards, with each member of the settlement class expected to receive a $335 check.
Source: YAHOO