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  Diminished Value "FORMULA 17c"
Designed to Defraud
By J. D. Howard
Insurance Consumer Advocate Network, LLC, Schools - Business & Vocational, Springfield, MO


Mabry v State Farm…
In a Georgia case law precedent, entitled Mabry v State Farm, it was determined that insurers must pay Diminished Value to their own Policyholders …

Court Order…
The Georgia Supreme Court ordered State Farm to develop a method by which Diminished Value could be measured …

State Farm’s Formula…
State Farm developed an ultra-conservative formula designed to minimize payments to State Farm policyholders … The Maximum payable, under their formula, is only 10% of the pre-Loss value of the vehicle ...

Limited Approval…
That formula, now known as “Rule 17c” was “Approved” by the Georgia Supreme Court as … an Alternative, in the absence of any other verifiable method of measure …

Departments of Insurance…
“Rule 17c” has Never been endorsed by the Georgia Department of Insurance nor any other DOI in any other state …

"Rule 17" now Banned …
On December 01, 2008, the Georgia Dept of Insurance BANNED the use of any "Formula" from being used to evaluate Diminished Value Claims ... This includes "Formula [Rule] 17c"

The Lie…
Some insurance companies around the country, including State Farm, continue telling consumers that “Rule 17c” has been “Ordered by the courts” … that is a LIE by omission !

Caution…
Now, some Diminished Value Assessment Services, in an effort to ingratiate themselves to and solicit work from insurance companies, use “Rule 17c” methodology. These same service providers also masquerade as consumer advocates. They market their “Rule 17c” reports directly to Consumers calling their methodology “Proprietary” … is that FRAUD ?

About iCan…
Not only do iCan affiliates NOT use “Rule 17c” methodology, we also know how to de-bunk any recommendations based upon “Rule 17c”.

Dramatic Example…
In April, 2007 a Diminished Value Assessment Service reviewed a damage repaired late model Jaguar on behalf of Zurich Insurance Company. “Rule 17c” defined a Diminished Value of … $1,600.00.

An iCan affiliate testified on behalf of the vehicle owner … The court awarded a Diminished Value judgment of … $11.500.00.

Never… Never…
Never … let an insurance company tell you how much they owe you. If what you are being told doesn’t sound right … Check with iCan !




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