USAA Changes Policy After ABC News Investigation Into Sandy-Damaged Vehicles Sold on Used Car Lots [View all]
Source: ABC News
In the wake of an ABC News investigation into superstorm Sandy-damaged cars being sold on used car lots, a major American insurance company acknowledged that its salvage vehicle branding process after Sandy was "unsatisfactory," and it is making changes to help keep those damaged cars off the road.
USAA, which focuses on providing financial services and insurance to U.S. military members and their families, is now facing questions, which were raised by an ABC's "The Lookout" report in July, over its failure to brand at least one of its flood-damaged vehicles -- a 2006 Ford F-350 -- as a salvage vehicle before selling it at auction.
In a follow-up interview with "The Lookout's" Bill Weir, Kevin Bergner, the president of USAA's Property and Casualty Insurance Group and a former Army general, said the team's report was "shining the light on something that is troubling all of us."
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When superstorm Sandy pummeled the Northeast last October, the damage was widespread. Nearly 300 people lost their lives, and thousands more lost their homes. Then there were the cars. According to the National Insurance Crime Bureau, an estimated 250,000 cars were submerged for days in corrosive saltwater.
Read more: http://abcnews.go.com/US/usaa-policy-abc-news-investigation-sandy-damaged-vehicles/story?id=20156236&singlePage=true
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