CCC Valuescope & USAA Conspiring to Defraud, Committing RICO Act Violations?

CCC Valuescope & USAA Conspiring to Defraud, Committing RICO Act Violations?

I am filing a consumer complaint against CCC Valuescope (CCCG) and my insurance company USAA for falsely alleging a reasonable “market place worth” of my automobile.

My insurer USAA has breached its obligation to physical exercise the utmost great faith to me its insured. By utilizing CCC Valuescope (a organization I allege violates the U.S. federal RICO Act) USAA has deliberately supplied me a very low and fraudulent valuation of my automobile in hopes of acquiring an unreasonable and unfair settlement.

CCC Valuescope (formerly acknowledged as CCC Info Products and services Group Inc – CCCG) can by no means be considered a reasonable and market value of vehicles as CCC Valuescope is effective completely for insurers and thus has an economic fascination to supply valuations that are deliberately under the precise honest industry benefit of what insured autos are really worthy of.

It is known truth through the insurance policy market that CCC gathers its values from what vehicle dealers would market a automobile for at basement wholesale selling prices, not the legitimate “retail benefit of an auto of like kind and good quality prior to the accident” as mandated by FL coverage polices. Also CCC Valuescope uses a mix of motor vehicles formerly leased, used, and abused among wrecked automobiles when compiling valuations to manage their insurance plan corporation shoppers spending out full losses the lowest doable “values” to existing their insured.

Ironically, almost each automobile in CCC Valuescope’s appraisal of my vehicle report consisted of vehicles that had about 20 records indicative of difficulties this kind of as mishaps and faulty autos. Amid the report, some cars and trucks had 28, 31, and 32 information.

Slicing expenses and denying its insured “the utmost thanks treatment” historically can be documented towards USAA starting with the class action lawsuit from USAA in Washington’s King County (March 12, 1999) for persuasive vehicle mend stores to use “imitation” areas in repairs, though at the same time hiding this apply from policyholders. Beyond auto insurance policy, USAA has plenty of problems filed versus it in 27 states throughout the nation.

CCC Valuescope is not unbiased in their valuations due to the fact they are a hired gun for the insurance policy businesses! Upon conducting a VIN research on the motor vehicles within just the CCC report 39813905, lots of cars and trucks had about 20 data indicative of several collisions, concerns with the car or truck, and a number of variations of possession. By relying upon CCC’s intentionally reduced valuation of my car, USAA is breaching its fiduciary responsibility to act in very good religion in handling my declare. No good and honest analysis of my claim can be done by CCC as it is contracted by insurers for the main intent of minimizing monies paid out by insurers to its fiduciaries. By employing CCC Valuescope, USAA is clearly not exercising the “utmost thanks care” in the curiosity of me its insured as required by Baxter v. Royal Indemnity.

CCC admitted by itself in its SEC Submitting on 3-16-2005 that “the Corporation in some cases pays a new shopper for the remaining determination of its previous contract with third get-togethers as an incentive”. In regard to regulation, CCC mentions in the similar submitting “in most states, even so, there is no formal acceptance course of action for whole loss valuation merchandise”. CCC alone confesses in the exact report “particular person state departments of coverage have taken positions as to whether or not the use of CCC Valuescope valuations is in compliance with a states assert handling laws”.

“The Firm is knowledgeable that due to the fact 2002 the California Office of Insurance plan has recommended some of the Firm’s clients (which administration estimates to be somewhere around 14% of the whole profits attained in 2004 from the Firm’s CCC Valuescope valuation solution and services) that the Division believed that their use of CCC Valuescope had not been in compliance with the California coverage restrictions in influence prior to Oct 4, 2004, with respect to selected components of the goods methodology. The Business believes the products was in compliance with the applicable California rules.”

“On April 24, 2003, the California Department of Insurance policies formally adopted new polices that necessary the Company to transform its methodology for computing overall decline valuations in California.” There is excellent purpose as a result to feel CCC Valuescope’s valuation methodology is terribly flawed and skewed to favor its coverage firm clients.

In CCC’s once-a-year report filed February 13, 2004 the legal proceedings and a lot of course motion lawsuits against CCC are documented in web pages 35, 42, 43, and 44 of the 53 web page report.

On web page 35, CCC Valuescope admits to environment apart $4.3 million as an estimate in direction of opportunity settlement to “resolve potential claims arising out of approximately 30% of the transaction quantity of CCC Valuescope”.

By acknowledging 30% of transaction quantity turning out to be opportunity claims, CCC Valuescope therefore will make it public file that it anticipates a sizeable share of lawsuits for unfair and fraudulent valuations. Such a significant percentage of transaction quantity by itself attests to the flawed methodology of CCC’s report, its unscrupulous dealings, and wholehearted determination to protect the financial passions of the insurers it serves.

Ironically, 4 of CCC Valuescope’s automobile insurance firm clients have created contractual and, in some scenarios, also prevalent law indemnification claims towards CCC for litigation fees, attorneys’ costs, settlement payments and other fees allegedly incurred by them in link with litigation relating to their use of CCC’s flawed Full Decline valuation solution.

Definitely the countless class action lawsuits submitted across the United States versus CCC Valuescape delivers further proof concerning the grossly low and inaccurate valuations of automobiles they give the insurers they serve. Amid the quite a few are:

CCC Settles Class Motion Match on Valuation of Overall Reduction Autos (July 15, 2005)

Chicago-based promises software program-maker CCC Info Solutions Inc. announced that it and 15 of its shoppers signed a settlement settlement with the plaintiffs in various course action satisfies pending in Madison County, Unwell. These consolidated satisfies, Circumstance Nos. 01 L 157, et al., relate to the valuation of motor vehicles that have been declared total losses by insurers.

Phrases of the settlement arrangement will require CCC to spend recognize and administration fees and other expenses related with the settlement. The business estimates that these charges will complete about $8 million, and including obtainable insurance proceeds of $1.8 million, the company is absolutely reserved for these payments. Other settlement fees, together with claims by class members, will be paid by the insurance plan organizations that are participating in the settlement.

August 23, 2000, a putative statewide class motion was filed in the Circuit Court docket for Hillsborough County, FL, in opposition to CCC and USAA Casualty Insurance policy Enterprise (Peter Sintes et al. v. USAA Casualty Insurance Firm and CCC Info Solutions, Inc., Case No. 00-006308). Plaintiffs allege that USAA contracted with CCC to offer valuations of “total reduction” automobiles and that CCC supplied valuations that had been deliberately down below the actual fair marketplace worth of the insured motor vehicle.

Iinsurance firms “owe a obligation to the insured to exercise the utmost good faith.” Baxter v. Royal Indemnity Corporation, 285 So.2d 652 (Fla. 1st DCA 1973).

Offered the a great number of and ongoing course motion lawsuits from CCC Valuescope there really should now be no concern that CCC Valuescope is not impartial in its car valuations and is responsible of violating the U.S. federal RICO Act and Nationwide Coverage Polices, together with several of the complicit insurance providers this kind of as USAA who willingly and knowingly use their products with the intent to deceive.