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Article: Auto insurers keep an eye on class-action suit over `diminished value'.(Knight Ridder Newspapers)
- Article from:
- Knight Ridder/Tribune News Service
- Article date:
- July 17, 2001
- Author:
CopyrightCOPYRIGHT 2001 Knight-Ridder/Tribune News Service. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Across Georgia, automobile insurance companies have kept a watchful eye on the evolution of a suit making its way through Muscogee Superior Court.
At stake are millions of dollars each year in new costs to many insurance companies, all in the form of hundreds and in some cases thousands of dollars in potential payouts to policyholders whose automobiles have been damaged. The impact already has been felt during the first 18 months of the class-action lawsuit listed as Mabry et al v. State Farm Mutual Automobile Insurance Co.
The suit raises the issue of whether policyholders in Georgia must be paid for the "diminished value" of an insured ...