The parties to this three-year-old case are scheduled to come before Judge Byron on September 24 at 9 a.m.
Hanke accuses AIG of conspiring with third party vendors to defraud its customers by using biased vehicle valuation reports, in order to reduce its overall “total loss” claims payout.
AIG writes automobile insurance policies that in general promise it will pay for the loss of damaged or stolen property minus any deductible.
Hanke, represented by The Lakin Law Firm of Wood River, alleges that AIG claims adjustors look for ways to reduce the paid claims. According to filings, Hanke says AIG has adjusting tools it uses to carry out a scheme to reduce or deny first-party claims.
They also allege that AIG internally estimated the savings they would reap by using third party reports to determine their total loss claims payout.
Attorneys for Hanke claim that AIG can't rely on the statue of limitations because AIG committed fraud by selling policies it knew it would not fully honor.
This case was originally filed in May 2001. In August 2002 AIG wanted to settle this matter; Hanke refused.
01 L 851