Auto Insurer Accused Of Underpaying Thousands Of Claims
Law360 (May 8, 2019, 6:01 PM EDT) -- A policyholder hit First Acceptance Insurance Co. with a proposed class action in Florida federal court Wednesday, accusing the insurer of routinely underpaying the "actual cash value" for losses.
Sarasota County, Florida, resident Derrick McGowan claims the Texas-based insurer systematically underpaid potentially thousands of insureds by failing to pay state and local title transfer, vehicle registration fees and sales taxes when calculating payouts for total loss claims.
McGowan alleges breach of contract and asked the court to declare that First Acceptance's policyholders submitting total loss claims are unconditionally entitled to "full total loss payments," or FTLP, which the complaint defines as...
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