One practice that has plagued the insurance industry in recent years has been contractors soliciting homeowners to make insurance claims after a hailstorm, for example, and then obtaining an assignment of rights to the claim...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
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
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
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
In prior blog posts, I’ve covered developments in the putative class actions against insurance companies in Georgia involving diminution in value on property insurance claims (see my March 11, 2016 post, for example)....more
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
I have had a busy summer and am overdue in updating readers on recent decisions in class actions against insurers involving the “labor depreciation” issue. The issue involves whether, when insurers estimate the “actual cash...more
One of the issues I’ve been covering on this blog is a series of putative class actions in Georgia arising out of a Georgia Supreme Court decision in 2012, which held that diminution in value of real property is potentially...more
A while back, I wrote about a Georgia Supreme Court decision, Royal Capital Development LLC v. Maryland Casualty Co., that held that diminution in value of real property is potentially covered under a property insurance...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
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