NEW YORK ? Progressive agreed to pay $48 million to settle a class action lawsuit accusing the insurer of systematically undervaluing the claims of New York drivers whose vehicles were wrecked.� A preliminary settlement of the proposed class action was filed on Monday night in federal court in Manhattan, and requires approval by U.S. District Judge Lorna Schofield.
�This effort to "thumb the scale" artificially reduced payouts, violating Progressive's policies and New York's general business law, the policy holders said.� Progressive denied wrongdoing in agreeing to settle.� Neither the Mayfield, Ohio-based insurer nor its lawyers immediately responded to requests for comment on Tuesday.� The settlement covers New York policy holders from July 28, 2015, to the present.