Life Sciences Quarterly: Tax Cuts and Jobs Act: Implications for Life Science Business
Tax Developments Affecting Health Care Organizations and Investor-Owned Hospital Companies
This year began like the last one ended, with lots of activity. Total loss class actions kept going around the country, and labor depreciation class actions experienced ups and downs, depending on one’s viewpoint. New class...more
Insurers in South Carolina may now depreciate both labor costs and material costs when determining the “actual cash value” (ACV) owed to policyholders for property damage....more
Insurance policies are designed to indemnify an insured by putting the policyholder in the same position he or she would have been in had no loss occurred. In the context of property insurance policies, damaged property is...more
On 14 March 2019, the Supreme Court of Appeal (SCA) dismissed an appeal by Centriq Insurance Company Ltd (Centriq) against a ruling of the Free State High Court holding liable a financial advisor under a professional...more
The past quarter has seen several new types of class actions against insurers and new twists on the well-worn theory of total loss claims, as well as some new life breathed into long-running labor depreciation class actions. ...more
This week the Eighth Circuit issued its long-awaited decision in a class action against State Farm involving the “labor depreciation” issue that I have covered extensively on this blog. State Farm prevailed on both the merits...more
There have been two recent federal district court decisions in the widespread class action litigation involving the application of depreciation to the labor cost component of replacement cost value on property insurance...more
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...more
Property policies typically provide, if there is coverage, that the insured can recover for the costs to repair or replace the property damaged by loss. But when an insured does not repair or replace the damaged property (or...more
It’s been a while since I updated you on the status of class action litigation regarding the application of depreciation to labor costs on property insurance claims. There have been three decisions since my last update, with...more
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...more