replacement cost calculations News

Florida Supreme Court Rules Replacement Cost Includes Contractor’s Profit

Florida’s high court has ruled that insurers under a 2008 law must pay a contractor’s overhead and profit as part of the expense of repairing a homeowner’s property despite the fact the repairs may not have been made. The Florida …

Homesite Insurance Company Agrees to Pay $350,000 for California Penalities

The Department of Insurance announced that Homesite Insurance Company has agreed to pay a penalty of $350,000, and refund $10,522 in premium overcharges to over 70 California policyholders. “Ensuring that insurance companies are conducting business according to all laws and …

Florida Consumers File Class Action Suit Against Citizens

An 82-year-old woman from the Tampa Bay area trying to survive on a meager social security check is among customers of Citizens Property Insurance Corp. suing the insurer for the way it calculates replacement values. Ruth Lauro said Tuesday that …