Country Mutual Insurance Settlement for Improper Depreciation Claims

Will Gendron
Editor in Chief
Published
June 23, 2024 11:16 AM
Updated
July 24, 2024
Country Mutual Insurance Settlement for Improper Depreciation Claims
Settlement Open for Claims
Award:
$22.50 - $500
Deadline:
October 28, 2024
SUBMIT CLAIM

Country Mutual Insurance Company has agreed to settle a class action lawsuit for alleged improper deduction of nonmaterial depreciation when adjusting certain property insurance claims .

Can I Claim an Award?

If you received a notice, then you have been identified as someone who is likely to be a member of the Class.

The Class includes all people who had a commercial property policy issued by Country Mutual Insurance Company who made a first-party insurance claim for structural loss in the states of Arizona, Illinois, Missouri, Ohio, Tennessee, or Wisconsin along with:

  • A date of loss during the Class Period:
    • July 21, 2019 through January 14, 2022 for properties in Arizona, Illinois, Ohio, Tennessee, or Wisconsin
    • December 21, 2012 through December 21, 2022 for properties in Missouri
  • Where one of two situations occurred:
    • An actual cash value (ACV) payment for a structural loss claim from which nonmaterial depreciation was withheld
    • Claims where an XactAnalysis Report is available, would have resulted in an ACV payment for a structural loss claim but for the withholding of nonmaterial depreciation caused the ACV of the claim to drop below the applicable deductible.

How Much Can I Claim?

Settlement award payments vary based on a combination of factors. First, you must determine if previous payments plus the deductible equaled or exceeded Replacement Cost Value (RCV).

Illinois, Ohio, or Tennessee

If previous payments + deductible equaled or exceeded RCV, payment based on Nonmaterial Depreciation withheld:

  • $25 if $1 - $5,000
  • $50 if $5,001 - $10,000
  • $100 if $10,001 - $20,000
  • $200 if $20,001 - $40,000
  • $300 if $40,001 - $60,000
  • $400 if $60,001 - $80,000
  • $500 if greater than $80,000

If previous payments + deductible did not equal or exceed RCV:

  • 105% of: (Total Nonmaterial Depreciation Amount - Repaid Nonmaterial Depreciation Amount)

If no Claim Payment was made (Total ACV ≤ Total Deductible Amount):

  • 105% of: (Total ACV + Total Non-Material Depreciation Amount - Total Deductible Amount)

Arizona or Wisconsin

If previous payments + deductible equaled or exceeded RCV, payment based on Nonmaterial Depreciation withheld:

  • $22.50 if $1 - $5,000
  • $45 if $5,001 - $10,000
  • $90 if $10,001 - $20,000
  • $180 if $20,001 - $40,000
  • $270 if $40,001 - $60,000
  • $360 if $60,001 - $80,000
  • $450 if greater than $80,000

If previous payments + deductible did not equal or exceed RCV:

  • 80% of 105% of: (Total Nonmaterial Depreciation Amount - Repaid Nonmaterial Depreciation Amount)

If no Claim Payment was made (Total ACV ≤ Total Deductible Amount):

  • 80% of 105% of: (Total ACV + Total Non-Material Depreciation Amount - Total Deductible Amount)

Missouri

If previous payments + deductible equaled or exceeded RCV, payment based on Nonmaterial Depreciation withheld:

  • $22.50 if $1 - $5,000
  • $45 if $5,001 - $10,000
  • $90 if $10,001 - $20,000
  • $180 if $20,001 - $40,000
  • $270 if $40,001 - $60,000
  • $360 if $60,001 - $80,000
  • $450 if greater than $80,000

If previous payments + deductible did not equal or exceed RCV, the calculation varies based on the date of loss:

  • Dec 21, 2012 - Jun 20, 2015: 108% of (Total Nonmaterial Depreciation Amount - Repaid Nonmaterial Depreciation Amount)
  • Jun 21, 2015 - Dec 20, 2017: 103.5% of (Total Nonmaterial Depreciation Amount - Repaid Nonmaterial Depreciation Amount)
  • Dec 21, 2017 - Jun 20, 2020: 99% of (Total Nonmaterial Depreciation Amount - Repaid Nonmaterial Depreciation Amount)
  • Jun 21, 2020 - Dec 21, 2022: 94.5% of (Total Nonmaterial Depreciation Amount - Repaid Nonmaterial Depreciation Amount)

If no Claim Payment was made (Total ACV ≤ Total Deductible Amount), the calculation varies based on the date of loss, using the same percentages as above: · 108%, 103.5%, 99%, or 94.5% of: (Total ACV + Total Non-Material Depreciation Amount - Total Deductible Amount)

Is Proof Required to Claim the Reward?

Yes, proof is required to claim the reward. Claimants must include on their claim form:

  • Unique ID and PIN from their settlement notice letter
  • Insured first and last name
  • Policy number
  • Claim number
  • Date of loss

How to Claim Your Award

You may complete and submit an online claim form or you may print a paper claim form and mail it to the following address, postmarked no later than October 28, 2024:

Jondro Class Settlement

c/o Epiq Class Action & Claims Solutions, Inc.

PO Box 4258

Portland, OR 97208-4258

How do I Get Paid?

If the Court grants Final Approval of the settlement, and if any appeals are resolved in favor of the settlement, then payments will be mailed to eligible Class Members after the claims administration process is completed.

Important Dates

  • Deadline to File a Claim: October 28, 2024
  • Deadline to Exclude Yourself from the Settlement: August 2, 2024
  • Final Approval Hearing: September 12, 2024

Why is There a Class Action Settlement?

The lawsuit claims that Country Mutual Insurance Company improperly deducted depreciation attributable to the costs of labor and other nonmaterial items when adjusting some property insurance claims covered under Commercial Property Policy forms in Arizona, Illinois, Missouri, Ohio, Tennessee, and Wisconsin.

The Court did not decide in favor of the plaintiffs or the insurance company. Instead, both sides agreed to settle. That way, the parties avoid the cost of a trial and potentially an appeal, and the people who qualify will get compensation.

Notice Letter

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Status
Open for Claims
Category
Insurance
Settlement Amount
Award
$22.50 - $500
Is Proof Required?
Proof Required
Proof Required
Days Remaining to file Claim
96
Claim Deadline
October 28, 2024
Fairness Hearing
September 12, 2024
Final Approval Hearing
September 12, 2024
Case Number
2022-LA-0000228
Case Title
Jondro, et al. v. Country Mutual Insurance Company
State
Court
Jurisdiction
Claims Administrator
Epiq Class Action & Claims Solutions, Inc. c/o Jondro Class Settlement PO Box 4258 Portland, OR 97208-4258 1-888-209-4680
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