Wystan Ackerman | Robinson & Cole | November 8, 2015 I’ve been following closely a series of class actions around the country alleging that, in calculating the “actual cash value” of property damage under a homeowners or commercial property insurance policy, insurance companies should not be applying depreciation to the labor component of the replacement… Continue reading Depreciation of Labor Class Action — Minnesota Supreme Court Oral Argument
Tag: Actual Cash Value
Review of the Farmers “Next Generation” Homeowner’s Policy, Part 2: Appraisal
Robert Trautman | Property Insurance Coverage Law Blog | July 22, 2015 In Part 1 of my review of the Farmers “Next Generation” Homeowner’s Policy, I explored Farmers; new definition of Actual Cash Value. In this post, we are going to explore the new appraisal clause offered by Farmers. The standard appraisal clause in an HO-3… Continue reading Review of the Farmers “Next Generation” Homeowner’s Policy, Part 2: Appraisal
Review of the Farmers “Next Generation” Homeowner’s Policy, Part 1: Actual Cash Value
Robert Trautman | Property Insurance Coverage Law Blog | July 17, 2015 Anyone who has made their living in the insurance claims business over the last few years has heard of the Farmers “Next Gen” policy. I thought it would be a good idea to look at this policy and compare it to the standard HO… Continue reading Review of the Farmers “Next Generation” Homeowner’s Policy, Part 1: Actual Cash Value
Calculating Actual Cash Value, Part 8: Arizona
Shane S. Smith | Merlin Law Group, PA | May 17, 2015 At a reader’s request, this week I will discuss calculating actual cash value of a claim in Arizona. The Arizona Department of Insurance provides a definition of actual cash value:1 “Actual Cash Value usually means the sum of money required at the time… Continue reading Calculating Actual Cash Value, Part 8: Arizona
Calculating Actual Cash Value, Part 7: Kentucky
Shane Smith | Property Insurance Coverage Law Blog | May 12, 2015 You may have been following some of my prior blogs on Calculating Actual Cash Value. So far, I have covered: Florida, California, Louisiana, Texas, New Jersey and New York, and Michigan. This week, I will address Kentucky. To recap, actual cash value (ACV)… Continue reading Calculating Actual Cash Value, Part 7: Kentucky