Exhaust values - Diesel scandal costs insurers 1.52 billion euros
The dispute over manipulated emissions values has so far cost German legal expenses insurers 1.52 billion euros. By the end of October, almost 426,000 customers had taken out insurance to assert claims against the manufacturer, as reported by the German Insurance Association (GDV) in Berlin on Tuesday. With the costs for lawyers, court and expert costs, it is now the most expensive claim in the history of German legal expenses insurers, the GDV summarized.
However, almost half of the claims were ultimately unsuccessful, according to the association after evaluating almost 81,000 cases. Only every tenth case (10.4 percent) was fully successful, while 42.1 percent were at least partially successful. In contrast, 47.5 percent of lawsuits failed. The average amount in dispute was a good 25,000 euros.
The diesel scandal came to light in the fall of 2015 after manipulations in emissions measurements on VW diesel engines were uncovered in the USA. Other manufacturers were also affected.
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- Despite the success rate being relatively low, insurance claims related to the diesel scandal in Lower Saxony continue to rise, with more than 426,000 customers seeking legal action against manufacturers, according to the GDV in Berlin.
- The General Association of the German Insurance Industry (GDV) has reported that the cost of exhaust gas value-related insurance claims in Lower Saxony has reached an unprecedented 1.52 billion euros, primarily due to manipulated emissions values in diesel engines.
- In light of the diesel scandal, many Lower Saxony car owners have taken out insurance policies offering legal expenses coverage, with the aim of recovering compensation from the affected manufacturers, as outlined by the GDV.
- As the environmental impact of diesel exhaust gas becomes a growing concern, insurance companies in Lower Saxony are reviewing their processes and policies to better cater to the needs of customers seeking redress for emissions-related issues.
- Following the revelations of manipulated emissions values in diesel engines, German insurers have been working closely with regulatory bodies in Berlin to ensure compliance with legal requirements related to exhaust gas values and substance emission limits, in order to minimize future claims and reduce financial losses.
Source: www.stern.de
