Charles Mathis | Property Insurance Coverage Law Blog | December 2, 2017 Sometimes when researching one issue, a case will pop up that isn’t what we were looking for, but nonetheless is worthy of note. While I was trying to help a public adjuster with some case law research the other day, I came across… Continue reading Court Holds Actual Cash Value Policy Provision Unconscionable
Tag: Actual Cash Value
Overhead and Profit Should be Included with Payments Made on Actual Cash Value Basis
Jonathan Bukowski | Property Insurance Coverage Law Blog | November 15, 2017 While many carriers continue their attempt to exclude overhead and profit from property damage claim payments made on an actual cash value basis, the majority approach across the United States has been to include general contractor overhead and profit in actual cash value… Continue reading Overhead and Profit Should be Included with Payments Made on Actual Cash Value Basis
California Supreme Court Affirms California Fair Plan Ass’n v. Garnes, and Preserves Homeowners’ Interests
Stephanie Poll | Property Insurance Coverage Law Blog | August 17, 2017 The California Department of Insurance recently issued a press release announcing that the California Supreme Court affirmed the homeowner reimbursement protections recently decided in California Fair Plan Association v. Garnes.1 Back in June, my colleague Kevin Pollack wrote about the recent decision and whether actual cash value means fair… Continue reading California Supreme Court Affirms California Fair Plan Ass’n v. Garnes, and Preserves Homeowners’ Interests
Calculating Actual Cash Value, Part 29: Oregon
Shane Smith | Property Insurance Coverage Law Blog | August 25, 2017 This week, Oregon made national news as one of the best locations to view the Great American Eclipse. I realized I had not yet covered Oregon in my series on calculating actual cash value, leading to today’s blog. In Growers Refrigerating Co. v. American Motorists… Continue reading Calculating Actual Cash Value, Part 29: Oregon
Colorado Joins a Growing List of Jurisdictions Allowing Depreciation of Labor Costs When Determining Actual Cash Value
Larry Bache and Jonathan Bukowski | Property Insurance Coverage Law Blog | August 8, 2017 While I often argue that depreciating labor simply does not make sense, insurers continue to push the question of whether the depreciation of labor costs in Actual Cash Value policies is acceptable. Though several jurisdictions have rejected the depreciation of… Continue reading Colorado Joins a Growing List of Jurisdictions Allowing Depreciation of Labor Costs When Determining Actual Cash Value