Tesla's insurance arm accused of underpaying claims in Arizona lawsuit [Yahoo! Finance]
QBE INSURANCE GP S/ADR (QBIEY)
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Source: Yahoo! Finance
systematically underpaid millions of dollars in claims by failing to provide required coverage for uninsured and underinsured motorists. The complaint was brought by Athena Boggs and Jared Miiller, who allege that Tesla General Insurance did not comply with an Arizona statute requiring insurers to provide written offers of uninsured and underinsured motorist coverage equal to the policyholder's bodily injury liability limits, reported Reuters According to the lawsuit, these alleged failings have left injured customers without the financial coverage required by law. The legal action focuses on a crash in May in which one of the plaintiffs was injured. The other driver reportedly carried $100,000 in liability insurance, but Tesla paid only $25,000 in underinsured motorist benefits – less than what the plaintiffs contend Arizona law demands. This lawsuit also points out that Tesla did not permit “stacking” of coverage, which is allowed under certain conditions in Arizona and en
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