The Property Line

Month

February 2016

Minnesota Supreme Court Rules Labor Costs May Be Depreciated in Determining Actual Cash Value

Recently, Minnesota’s highest court ruled in Wilcox v. State Farm Fire & Cas. Co. on whether or not labor can be depreciated in determining Actual Cash Value (ACV). Answering a certified question from the United States District Court of Minnesota,… Continue Reading →

Florida Court Rules Homeowner Can Assign Benefits Absent Insurer Consent

Elaine Gattus purchased a homeowner’s policy from Gulfstream Property and Casualty Insurance Company (Gulfstream). The policy included a provision that stated “[a]ssignment of this policy will not be valid unless we give our written consent.” After Gattus’ home suffered damage,… Continue Reading →

Methods of Calculating Actual Cash Value of a Claim

Tressler LLP is pleased to present the updated 50 State Survey on “Methods of Calculating Actual Cash Value of a Claim,” published by Todd Schenk, Todd Rowe and Aon Hussain. Many property insurance policies provide for payment of a claim… Continue Reading →

9th Circuit Holds Decay Between Walls Did Not Trigger Decades-Old “Collapse” Coverage

In the unpublished Queen Anne Park Homeowners Assoc. v. State Farm Fire & Cas. Ins. Co., the 9th U.S. Circuit Court of Appeals addressed a HOA’s 2011 claim for coverage under property insurance policies issued by State Farm when it… Continue Reading →

First-Party Insurance Claims Related to the “Internet of Things” an Emerging Issue for 2016

Republished from Tressler’s Privacy Risk Report blog. While the “internet of things” (IoT) is not a new concept for the insurance industry, many people outside the insurance industry are just beginning to discuss this issue. In general, the term “internet… Continue Reading →

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