Michael Versichelli and Tamika Hardy Obtain Dismissal of a Putative Class Action
September 7, 2012 | | |Michael Versichelli and Tamika Hardy obtained dismissal of a putative class action brought by a claimant challenging a no-fault insurer’s industry-wide practice of calculating lost wage benefits under New York’s no-fault law. The court held that a no-fault insurer is permitted to offset the 20% tax reduction for lost wages against the $50,000 cap for basic economic loss, and satisfies its obligation to pay first party benefits when the combined benefit payments and statutory offsets equal $50,000, even if the amount actually paid by the insurer totals less than $50,000.
Please click the link below to read Corey v. USAA. Adobe Reader is required to view the bulletin. If Adobe Reader is not installed on your PC, click here to download and install.
