The Property Line

Tag

Actual Cash Value

Insurers Must Analyze the Condition of Personal Property to Calculate Depreciation for ACV Purposes

A California trial court recently held that an insurer must use the “condition” of personal property as a factor in determining the depreciation value to calculate actual cash value (ACV). In The Doan v. State Farm Gen. Ins. Co., certain… Continue Reading →

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 →

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 →

Arkansas Supreme Court Holds ACV Calculations Should Not Include Depreciation of Labor

It is a well-settled principle that the plain language of insurance policies prevail. In coverage disputes, it is rare to see a court purposefully ignore the application of unambiguous policy language. The Arkansas Supreme Court, however, recently ignored specific contract language, holding… Continue Reading →

© 2017 Tressler LLPDisclaimer | Privacy Policy

Tressler Blog Network Bad Faith BulletinCGL DispatchCondo Law WatchLocal Government LowdownPrivacy Risk ReportSpecialty Lines Advisory