Did you receive a notice from Greater New York? Did you receive a mail about a class action on the settlement to resolve claims about the Greater New York Mutual Insurance depreciation lawsuit? This review will help you partake in the class action settlement after confirming the authenticity of the mail.
What Is Greater New York Mutual Insurance depreciation Class Action Settlement?
Greater New York Mutual Insurance Co. agreed to a class action lawsuit settlement to resolve claims it improperly deducted depreciation from commercial property insurance claims.
What Is This Class Action All About?
Plaintiffs in the insurance class action lawsuit claim that Greater New York Mutual Insurance wrongfully deducted nonmaterial depreciation from labor on commercial property damage claims. This practice allegedly resulted in lower payments for policyholders.
Greater New York Mutual Insurance Co. is a commercial insurance company that has been offering coverage since 1914.
Greater New York Mutual Insurance hasn’t admitted any wrongdoing but agreed to pay an undisclosed sum to resolve the depreciation class action lawsuit.
Under the terms of the settlement, class members can receive a full refund for the nonmaterial depreciation that hasn’t been paid in addition to 5% simple interest. No settlement payment estimates are available at this time.
Who Is Eligible?
The settlement benefits all policyholders under commercial property insurance policies issued by Greater New York Mutual Insurance Co. who made a structural loss claim for property in Illinois between Jan. 1, 2019, and Sept. 23, 2021, that resulted in an actual cash value that withheld nonmaterial depreciation.
How To Be Part of This Settlement
For class member to partake in this settlement, class Members must submit a valid claim form by Nov. 7, 2023. The deadline for exclusion and objection is Aug. 21, 2023.
What Is The Pay For This Settlement?
The pay for this settlement varies and the proof of purchase is not necessary.
Conclusion
As you submit your claim to the settlement website GNYDepreciationSettlement.com, just like the Udemy class action settlement we have reviewed, you’re doing so under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. The final approval hearing for the settlement is scheduled for Sept. 20, 2023.
