Chip Merlin | Property Insurance Coverage Law Blog | April 16, 2019 In an opinion issued yesterday, the Tennessee Supreme Court held that labor cannot be depreciated when considering actual cash value.1 Merlin Law Group participated in this victory for policyholders by writing an amicus curiae brief on behalf of United Policyholders. The court’s conclusion and rationale for it is straight forward:… Continue reading Can Labor Be Depreciated When Considering Actual Cash Value?
Tag: Depreciating Labor
Depreciating Labor is Against Public Policy When Calculating Actual Cash Value
Chip Merlin | Property Insurance Coverage Law | December 14, 2015 The Arkansas Supreme Court ruled last week that depreciating labor is against public policy when calculating the actual cash value of a loss. This was despite insurance policy language permitting the practice. This will undoubtedly generate class action lawsuits against insurers engaged in this practice… Continue reading Depreciating Labor is Against Public Policy When Calculating Actual Cash Value