Ccc Valuescope & Usaa Conspiring to Defraud, Committing Rico Act Violations?

Auto Accident Attorney Chicago - Ccc Valuescope & Usaa Conspiring to Defraud, Committing Rico Act Violations?

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I am filing a buyer complaint against Ccc Valuescope (Cccg) and my insurer Usaa for falsely alleging a fair "market value" of my automobile.

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Auto Accident Attorney Chicago

My insurer Usaa has breached its duty to exercise the utmost good faith to me its insured. By using Ccc Valuescope (a business I voice violates the U.S. Federal Rico Act) Usaa has intentionally in case,granted me a low and fraudulent valuation of my automobile in hopes of obtaining an unreasonable and unfair settlement.

Ccc Valuescope (formerly known as Ccc data Services Group Inc - Cccg) can by no means be deemed a fair and market value of automobiles as Ccc Valuescope works exclusively for insurers and therefore has an economic interest to contribute valuations that are intentionally below the actual fair market value of what insured vehicles are truly worth.

It is known fact throughout the insurance business that Ccc gathers its values from what car dealers would sell a vehicle for at basement wholesale prices, not the true "retail value of an auto of like kind and capability prior to the accident" as mandated by Fl insurance regulations. Moreover Ccc Valuescope uses a mix of vehicles formerly leased, used, and abused among wrecked cars when compiling valuations to afford their insurance business customers paying out total losses the bottom inherent "values" to present their insured.

Ironically, nearly every vehicle in Ccc Valuescope's assessment of my car record consisted of vehicles that had over 20 records indicative of issues such as accidents and faulty cars. Among the report, some cars had 28, 31, and 32 records.

Cutting costs and denying its insured "the utmost due care" historically can be documented against Usaa starting with the class operation lawsuit against Usaa in Washington's King County (March 12, 1999) for compelling auto heal shops to use "imitation" parts in repairs, while simultaneously hiding this custom from policyholders. Beyond auto insurance, Usaa has countless complaints filed against it in 27 states across the country.

Ccc Valuescope is not independent in their valuations since they are a hired gun for the insurance companies! Upon conducting a Vin crusade on the vehicles within the Ccc record 39813905, many cars had over 20 records indicative of numerous collisions, issues with the vehicle, and several changes of ownership. By relying upon Ccc's intentionally low valuation of my vehicle, Usaa is breaching its fiduciary duty to act in good faith in handling my claim. No fair and honest assessment of my claim can be performed by Ccc as it is contracted by insurers for the former purpose of minimizing monies paid out by insurers to its fiduciaries. By using Ccc Valuescope, Usaa is clearly not exercising the "utmost due care" in the interest of me its insured as required by Baxter v. Royal Indemnity.

Ccc admitted itself in its Sec Filing on 3-16-2005 that "the business sometimes pays a new buyer for the remaining commitment of its old compact with third parties as an incentive". In regard to regulation, Ccc mentions in the same filing "in most states, however, there is no formal approval process for total loss valuation products". Ccc itself confesses in the same record "individual state departments of insurance have taken positions as to whether the use of Ccc Valuescope valuations is in compliancy with a states claim handling regulations".

"The business is aware that since 2002 the California agency of insurance has advised some of the Company's customers (which administration estimates to be roughly 14% of the total income earned in 2004 from the Company's Ccc Valuescope valuation goods and service) that the agency believed that their use of Ccc Valuescope had not been in compliancy with the California insurance regulations in consequent prior to October 4, 2004, with respect to obvious components of the products methodology. The business believes the goods was in compliancy with the applicable California regulations."

"On April 24, 2003, the California agency of insurance formally adopted new regulations that required the business to change its methodology for computing total loss valuations in California." There is good guess therefore to believe Ccc Valuescope's valuation methodology is terribly flawed and skewed to favor its insurance business customers.

In Ccc's yearly record filed February 13, 2004 the legal proceedings and numerous class operation lawsuits against Ccc are documented in pages 35, 42, 43, and 44 of the 53 page report.

On page 35, Ccc Valuescope admits to setting aside .3 million as an assessment towards inherent village to "resolve inherent claims arising out of roughly 30% of the transaction volume of Ccc Valuescope".

By acknowledging 30% of transaction volume becoming inherent claims, Ccc Valuescope thereby makes it collective record that it anticipates a sizeable ration of lawsuits for unfair and fraudulent valuations. Such a high ration of transaction volume alone attests to the flawed methodology of Ccc's report, its unscrupulous dealings, and wholehearted commitment to protect the financial interests of the insurers it serves.

Ironically, four of Ccc Valuescope's automobile insurance business customers have made contractual and, in some cases, also base law indemnification claims against Ccc for litigation costs, attorneys' fees, village payments and other costs allegedly incurred by them in association with litigation relating to their use of Ccc's flawed Total Loss valuation product.

Certainly the countless class operation lawsuits filed across the United States against Ccc Valuescape provides added evidence with regard to the grossly low and inaccurate valuations of vehicles they give the insurers they serve. Among the many are:

Ccc Settles Class operation Suit on Valuation of Total Loss Vehicles (July 15, 2005)

Chicago-based claims software-maker Ccc data Services Inc. Announced that it and 15 of its customers signed a village bargain with the plaintiffs in assorted class operation suits pending in Madison County, Ill. These consolidated suits, Case Nos. 01 L 157, et al., report to the valuation of vehicles that have been declared total losses by insurers.

Terms of the village bargain will want Ccc to pay observation and administration fees and other costs related with the settlement. The business estimates that these costs will total about million, and including ready insurance proceeds of .8 million, the business is fully reserved for these payments. Other village costs, including claims by class members, will be paid by the insurance clubs that are participating in the settlement.

August 23, 2000, a putative statewide class operation was filed in the Circuit Court for Hillsborough County, Fl, against Ccc and Usaa Casualty insurance business (Peter Sintes et al. V. Usaa Casualty insurance business and Ccc data Services, Inc., Case No. 00-006308). Plaintiffs voice that Usaa contracted with Ccc to contribute valuations of "total loss" vehicles and that Ccc supplied valuations that were intentionally below the actual fair market value of the insured vehicle.

Iinsurance clubs "owe a duty to the insured to exercise the utmost good faith." Baxter v. Royal Indemnity Company, 285 So.2d 652 (Fla. 1st Dca 1973).

Given the countless and ongoing class operation lawsuits against Ccc Valuescope there should now be no demand that Ccc Valuescope is not independent in its auto valuations and is guilty of violating the U.S. Federal Rico Act and National insurance Regulations, along with many of the complicit insurance clubs such as Usaa who willingly and knowingly use their goods with the intent to deceive.

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