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
Tag: Depreciation of Labor
Depreciation of Labor Costs When Determining Actual Cash Value: Henn v. American Family
Alycen A. Moss | Property Insurance Law Observer | June 20, 2017 In February, the Nebraska Supreme Court held that it is acceptable for insurance companies to depreciate labor costs when determining the actual cash value (ACV) of damaged property, even when the insurance policy does not define “actual cash value” or “depreciation.” See Henn v.… Continue reading Depreciation of Labor Costs When Determining Actual Cash Value: Henn v. American Family
Depreciation of Labor Class Action — Minnesota Supreme Court Oral Argument
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