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By LegalMatters Staff • The Gluckstein Lawyers Class Action and Mass Tort team recently joined Nova Scotia’s Wagners Law Firm in a national class action lawsuit filed against the automobile insurance industry. The lawsuit seeks to rectify inequities in the valuation of total loss collisions.
In the statement of claim filed in the Supreme Court of Nova Scotia, which is yet to be certified, it is alleged that insurance companies “systemically thumb the scale” when calculating the actual cash value (ACV) of vehicles being written off after a collision. It echoes similar litigation taking place in the United States. It is anticipated more claims will follow here and in the U.S.
Different insurers use different programs to calculate ACV, and it is alleged that what they do is take a percentage off the price that their algorithm generates. To read more, click here.
