The Property Line

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property value

Down the Slippery Slope of Bad Faith Discovery

In bad faith lawsuits, policyholders often seek discovery of other claims involving allegations of bad faith. Such discovery is not relevant and should be uniformly denied. The mere fact that some other claim resulted in a finding of bad faith… Continue Reading →

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 →

Marijuana Covered Under Property Policy: Insurers Must Consider Other Factors in Claims Adjusting

Proper claims handling requires comparing policy terms and conditions with particular facts giving rise to a claim. However, a recent decision finding that an insured’s marijuana stock is covered under a property policy offers a reminder that other circumstances should… 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 →

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