Out With a Bang: Current State of Play on Coverage for COVID-Related Losses
The Calm Before and After the Storm: How to Maximize Insurance Recovery for Catastrophic Weather Events
Protect Your Construction Project: Top 10 Insurance Provisions to Know
Filing Insurance Claims After the Texas Winter Storm
Subro Sense - The ABC's of RCV and ACV
K&L Gates Triage: Emergency Preparedness and Response in Long Term Care - Part II
What Money Damages Are Available In A Personal Injury Claim?
Ending a putative class action, the United States Court of Appeals for the Fifth Circuit examined policy language and two statutes to hold that an insurer does not owe sales tax on top of an actual cash value payment. The...more
On June 28, the Missouri Court of Appeals upheld a lower court’s decision finding Lexington Insurance Company (“Lexington”) breached its policy with homeowner Cynthia Franklin. Franklin’s home has sustained damage in a May...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
In Butler, et al. v. The Travelers Home and Marine Insurance Co., separate fires damaged the homes of Miriam Butler and Joseph Stewart. Each home was insured by a Travelers-related insurance company (collectively,...more
On August 18, 2020, the Supreme Court of Pennsylvania held, in a 4-3 decision, that insurer, Truck Insurance Exchange, was entitled to withhold general contractor overhead and profit expenses (“GCOP”)...more
Oftentimes, third-party liability adjusters will refuse to pay the full amount of the “Repair Cost Value” (“RCV”) of the damages included in the subrogation demand, and contend that they only owe “Actual Cash Value” (“ACV”),...more
Accardi v. Hartford Underwriters Ins. Co., ___ N.C. __ , No. 42A19 (Feb. 28, 2020) - The North Carolina Supreme Court nixed a putative class-action lawsuit against a property insurer and validated the insurer’s untested...more
Insurance companies may no longer be allowed to rely on clear policy language that expressly excludes general contractor overhead and profit (“GCOP”) from actual cash value payments. The Pennsylvania Supreme Court recently...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
In situations where a property insurer denies coverage, the insured often complains that it is faced with a difficult dilemma – use its own money to fund repairs or avoid making repairs and risk having its recovery limited to...more
Property insurance policies typically require that the insured repair or replace damaged property before recovering on a replacement cost value (RCV) basis. ...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
It took years of depositions and other discovery to realize that that most of my 2004-2005 hurricane condominium association claims were much simpler to defend than I thought. The center of gravity of these claims was the...more
Oftentimes, during the course of a subrogation claim, third-party liability adjusters will refuse to pay the full amount of the “Repair Cost Value” (“RCV”) of the damages demanded, and contend that they only owe “Actual Cash...more
An emerging issue in class action litigation against the insurance industry involves an attempt by plaintiffs’ attorneys to argue that insurers should not be permitted to apply any deductible to payments made on an actual...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
Yesterday the Minnesota Supreme Court issued its opinion in Wilcox v. State Farm Fire & Casualty Company, a putative class action alleging that State Farm, in estimating the “actual cash value” of property damage under...more
When an insured suffers a property loss, the insurance policy defines the parameters of recovery. Typically, a property insurance policy’s default valuation provision for a property loss is the actual cash value of the...more
Class action litigation is spreading across the country involving the application of depreciation in calculating the actual cash value of property damage under homeowners and commercial property insurance policies. This blog...more
Imagine a devastating fire renders your rental property uninhabitable. You dig out your insurance policy and are relieved to find that you are insured up to the “actual cash value” of the building. But what exactly does this...more