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Insurance Industry › Replacement Costs

J.S. Held

Builder’s Risk: Complexities in Insuring Existing Structures

J.S. Held on

Property insurance for projects under construction can be significantly complex. Insuring renovation projects under a builder’s risk policy will often require more care in crafting a policy that provides adequate protection....more

Zelle LLP

Homeowners Did Not Substantially Meet Policy’s Condition Precedent to Recover Replacement Cost Value

Zelle LLP on

Property Insurance/Replacement Cost - Homeowners Did Not Substantially Meet Policy’s Condition Precedent to Recover Replacement Cost Value - Insurer Did Not Waive Conditions - Henderson v. State Farm Fire and...more

J.S. Held

A Comprehensive Guide to Substantial Structural Damage: Criteria, Repairs, and Code Compliance

J.S. Held on

Introduction: Substantial Structural Damage and Its Impact on Building Repairs - Substantial structural damage (SSD) is a defined term within the International Code Council (ICC) building code library, which assesses the...more

Pillsbury - Policyholder Pulse blog

Federal Court Finally Issues an Opinion Analyzing LEG 3 (and It’s a Win for Policyholders)

Pillsbury - Policyholder Pulse blog on

The London Engineering Group’s LEG 3 exclusion—one of three standard form provisions issued by the London Engineering Group addressing coverage arising from construction or design defects—is an increasingly common defects...more

J.S. Held

Evaluating Equipment Replacement Costs for Gas Station Losses

J.S. Held on

Gone are the days of pulling into the corner gas station and running over a faded red hose to ring a bell, which in turn alerts the station owner, whose feet are sticking out from under a vehicle in the garage, that he has a...more

Michigan Auto Law

Mistake #1 about Michigan No Fault replacement services

Michigan Auto Law on

Be warned — submitting false replacement services forms will forfeit a car crash victim from receiving Michigan auto No Fault benefits. I’ve represented several hundred Michigan car crash victims in my 22 years as an auto...more

Butler Weihmuller Katz Craig LLP

A Primer on Florida's "25 Percent Rule" for Roof Repair/Replacement

Butler Weihmuller Katz Craig LLP on

The 2014 Florida Existing Building Code (the “Code”) contains what is conventionally called the “25 percent rule” (the “Rule”). The Rule applies to roof repair of any commercial or residential building. In a nutshell, the...more

Butler Weihmuller Katz Craig LLP

The ABC's of ACV in Subrogation Claims

Butler Weihmuller Katz Craig LLP on

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

Robinson+Cole Class Actions Insider

Update on Labor Depreciation Class Actions

Robinson+Cole Class Actions Insider on

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

Robinson+Cole Class Actions Insider

Depreciation of Labor Costs Class Action: Nebraska Supreme Court Rules In Favor of Insurer

Robinson+Cole Class Actions Insider on

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

Nossaman LLP

California Supreme Court Endorses the Insurance Commissioner’s Authority to Regulate Wayward Insurers

Nossaman LLP on

On Monday, the California Supreme Court revived a 2011 insurance regulation designed to protect homeowners from underinsurance because of the insurance company’s use of potentially misleading estimates for home replacement...more

Pullman & Comley, LLC

California’s High Court Gives Insurance Regulators New Tools To Broaden Authority

Pullman & Comley, LLC on

Nearly two years ago, a California appellate court invalidated a rule promulgated by the state’s Insurance Commissioner, on the ground that the regulator lacks authority to prohibit “deceptive acts or practices” which are not...more

Carlton Fields

True To Form: Eleventh Circuit Rules Rejects Penalties for Non-Conforming Policies

Carlton Fields on

Insurance contracts are subject to numerous statutes and regulations specifying whether and how certain facts must be disclosed, certain coverages must be offered and certain coverage options must be accepted or declined. ...more

Pullman & Comley, LLC

Striking Down Regulation On Replacement Cost Estimates, A California Court Heads Off Policyholder Litigation

Pullman & Comley, LLC on

Last week, in Association of California Ins. Cos. v. Jones, B238622 (Cal. Ct. App. Apr. 8, 2015), a California appellate court affirmed a decision that invalidated a regulation governing estimates of replacement costs made by...more

Zelle LLP

Court Clarifies Insurers’ Replacement-Cost Obligations

Zelle LLP on

Amid the onslaught of Texas hail claims litigation, one Texas federal district court recently confirmed that in order for an insured to receive any portion of a replacement-cost holdback under a property insurance policy, it...more

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