July 27, 2023
Property insurance claims involving disputes about whether the insured is entitled to replacement cost value (RCV) typically involve whether the insured has actually repaired the damaged property. This is in large part because replacement cost provisions typically restrict an insured’s …
July 6, 2023
An insurer that used CCC Intelligent Solutions software to determine the payout for a claimant’s vehicle did not violate a Florida law that sets forth only three methods that auto insurers may use to determine actual cash value, a divided …
March 2, 2023
Two Trumbull Insurance customers who believe they were short-changed on claims payments have filed a proposed class action suit against the insurer, alleging Trumbull has been incorrectly calculating some property claim payments by deducting labor depreciation. The complaint (Grawe v …
August 12, 2022
Courts are split on the question of whether it is permissible to depreciate labor costs when determining actual cash value (“ACV”). The Illinois Supreme Court’s decision in Sproull v. State Farm Fire and Casualty Co., (9/23/21), affirming the appellate court …
April 5, 2022
SAN ANTONIO, Texas — The use of appraisals to resolve insurance claims disputes is the new normal, even though insurers don’t trust the process to bring about a fair result, an attorney and a claims examiner said Monday during the …
March 11, 2022
With just two days left in the 2022 Florida legislative session, a comprehensive property insurance reform bill appears to be dead. But lawmakers were said to be looking for ways to fold some of the main provisions into other bills …
July 14, 2020
A federal appellate court has cleared the way for a class-action lawsuit to proceed against State Farm Fire and Casualty Insurance Co. that may force the insurer to correct underpayments paid to some 65,000 policyholders. A 6th Circuit Court of …
July 1, 2020
A federal appellate court has cleared the way for a class-action lawsuit to proceed against State Farm Fire and Casualty Insurance Co. that may force the insurer to correct underpayments paid to some 65,000 policyholders. A 6th Circuit Court of …
March 20, 2020
Ohio law does not allow Allstate to include labor costs when calculating the amount of depreciation for a property damage claim, a split panel of the 6th Circuit Court of Appeals ruled, resolving a split among state appellate districts and …
March 3, 2020
An insurer whose policy covers the “actual cash value” of a property may deduct for depreciation of labor costs when it calculates the amount of the loss, the North Carolina Supreme Court ruled. The court noted that the question of …