Young America Insurance Co. & Loya Insurance Co. UIM Coverage Settlement

What happened

Young America Insurance Company and Loya Insurance Company allegedly violated New Mexico law by failing to disclose the limitations of or misrepresenting the value of underinsured motorist (UIM) coverage. The companies also allegedly applied offsets to UIM benefits based on the insurance coverage limits of third parties responsible for bodily injuries or property damage.

Do you qualify?

You qualify if you were insured under a Young America or Loya policy between October 1, 2010 and February 28, 2022 and either: (1) made a UIM claim that was reduced or denied due to a third-party offset, or (2) paid premiums for UM/UIM coverage during this period.

What you can claim

Read from the official settlement notice. Confirm the terms that apply to you on the administrator's site before filing.

• UIM claim readjustment and additional UIM benefits

  Class members who made a UIM claim that was reduced or denied due to offset of third-party coverage limits can submit a claim form for readjustment and potentially receive additional UIM benefits.

• Refund of UM/UIM premiums

  YAIC or LIC policyholders who paid premiums for UM/UIM coverage between October 1, 2010 and February 28, 2022 will receive a settlement payment in the form of a refund of UM/UIM premiums without submitting a claim.

Who is in the class

Certain individuals who were insured under a LIC or YAIC policy at any time between October 1, 2010 and February 28, 2022 and made a claim to LIC or YAIC for UIM benefits after October 1, 2010 under an insurance policy that included UM/UIM coverage, but did not include the disclosure or exclusion required by Crutcher v. Liberty Mutual Insurance Company, No. S-1-SC-37478, 501 P.3d 433 (N.M. 2021), and had UIM benefits reduced or denied due to the offset of the insurance coverage limits of a third party responsible for their injuries and/or property damage, or YAIC or LIC policyholders who paid premiums to YAIC or LIC for UM/UIM coverage at any point between October 1, 2010 and February 28, 2022.

Quoted from the settlement notice.

How to file

To claim a UIM benefit readjustment, submit a Claim Form by March 12, 2026 with documentation of your UIM claim. Eligible policyholders who did not make a claim can receive a premium refund automatically by doing nothing. Loya may request additional documentation to process your claim.