Policyholders sued giant auto insurers including Allstate and Geico, saying the companies did not sufficiently reduce premiums given the number of drivers staying off the road due to the COVID-19 pandemic.
Six separate lawsuits were filed in Cook County Circuit Court last week, saying insurance relief offered during the pandemic doesn't go far enough when accounting for the drop in claims. Complaints compare the companies' rebate policies to State Farm, which offered a 25 percent credit between March 20 and May 31, the Chicago Tribune reports.
The suits note that miles driven by Illinois motorists dropped by nearly two-thirds in the spring and that Allstate's 15 percent credit “falls far short of the relief that any fair and reasonable actuarial analysis would require."
Other insurers named as defendants are American Family Insurance, Progressive, Geico, Erie Insurance, and Travelers, according to the Tribune.
If the suits are granted class-action status, they would include all Illinois policyholders who had policies with the auto insurers since March, according to David Neiman, one of the attorneys representing Illinois consumers. Thousands of policyholders could join each suit.
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August 05, 2020 at 01:04AM
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Allstate, Geico and other large auto insurers face lawsuit from customers over size of rebate - Crain's Chicago Business
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