Bad Faith & Automated Claim Adjustment Software: Proving, Disputing Systematic Undervaluation of Damaged Vehicles
Recording of a 90-minute CLE video webinar with Q&A
This CLE webinar will discuss proving or defending bad faith claims based on the use of algorithms or "insurtech" to establish totaled vehicle valuation. The panel will review potential claims as well as recent cases raising these issues.
Outline
- Components of actual cash value for vehicles
- Replacement
- Fair market value
- Broad evidence rule
- Software examples
- CCC Information Services
- Work Center Total Loss (WCTL)
- JD Power and Mitchell International
- Audatex
- Challenging the accuracy and reliability of software
- Applying state formula for ACV
- Types data in the data base
- Use of negotiation deductions
Benefits
The panel will review these and other key issues:
- What damages are available for inaccurate cash value offer?
- On what basis can insurers claim that reductions of advertised prices are typical in a particular market? Do such deductions violate state laws?
- How can policyholders discover what algorithms are being used to calculate value?
- Do algorithms used to generate actual cash value have to pass muster under Daubert and FRE 702?
- Can insurers incorporate data about the policyholder's price elasticity and willingness to settle in determining the claim's "reasonable value"?
Faculty
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Close![Irvin, Andrew](/img/t/164c22393678251e8e1af443d7ab259a.jpg)
Andrew Irvin
Managing Partner
Irvin & Irvin
Mr. Irvin earned a bachelor's degree in finance from the University of Central Florida in 2008 and... | Read More
Mr. Irvin earned a bachelor's degree in finance from the University of Central Florida in 2008 and graduated, cum laude, from Florida A&M University College of Law in 2012. In law school, he was a senior editor of the Law Review Journal and the president of the Environmental Law Society.
Close![Kirsch, Ashton](/img/t/f21c46bf7ba8f101cd7d930b96d6ff3d.jpg)
Ashton T. Kirsch
Shareholder
Matthiesen, Wickert & Lehrer
Mr. Kirsch is an insurance litigation attorney and shareholder with the law firm of Matthiesen, Wickert & Lehrer,... | Read More
Mr. Kirsch is an insurance litigation attorney and shareholder with the law firm of Matthiesen, Wickert & Lehrer, S.C. He has been with MWL’s Hartford office since 2015, concentrating his practice on litigation of subrogation cases involving large loss casualty, commercial auto, transportation and cargo, and workers’ compensation. Mr. Kirsch has built and grown the MWL commercial auto and cargo/transportation group into the thriving sector of our firm’s subrogation practice.
Close![Smith, Shannon](/img/t/aeff261095fb67a7e7b062dfd0cf4331.jpg)
Shannon Smith
Owner
Shannon Smith's Auto Appraisals, Estimates
Owner at Shannon Smith's Auto Appraisals, Estimates, LLC
| Read MoreOwner at Shannon Smith's Auto Appraisals, Estimates, LLC
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