« Assurant Health Appoints New Senior Vice President, Chief Actuary for Group Markets | Main | Utilizing the Internet to Advertise Your Insurance Jobs »
December 03, 2004
Court Overturns Ruling on Auto Rate Settings
The 11th Circuit Court of Appeals has overturned a lower court ruling that would have reportedly given a single jury the power to set rates for auto insurance across the country.
In the case of Gilchrist, et al. v. State Farm Mutual Automobile Insurance Co., et al. the U.S. District Court for the Northern District of Florida certified a countrywide class action suit alleging that several major insurers conspired to violate antitrust laws by requiring the use of nonoriginal equipment manufactured replacement parts to repair damaged vehicles.
Posted by Tom Troceen