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
10/2/2017
/ Appeals ,
Cash Value ,
Class Action ,
Class Certification ,
Denial of Insurance Coverage ,
Depreciation ,
FRCP 23(f) ,
Insurance Industry ,
Insurance Litigation ,
Policy Terms ,
Property Damage ,
Property Insurance ,
Repairs ,
State Farm
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
8/15/2017
/ Class Action ,
Denial of Insurance Coverage ,
Depreciation ,
Insurance Industry ,
Insurance Litigation ,
Policy Terms ,
Property Damage ,
Property Insurance ,
Repairs ,
Replacement Costs ,
State Farm
I’ve regularly followed on my blog key developments in the numerous class actions against the insurance industry involving the application of depreciation to the labor cost component of estimated replacement cost value in...more
2/22/2017
/ Cash Value ,
Class Action ,
Depreciation ,
Fair Market Value ,
Homeowner's Insurance ,
Insurance Industry ,
NE Supreme Court ,
Property Insurance ,
Putative Class Actions ,
Real Estate Market ,
Replacement Costs
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
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
As an update to my March 29, 2015 blog post on the status of class actions on the labor depreciation issue, a Kansas federal court recently granted summary judgment in favor of an insurer.
In Graves v. American Family...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