Reinsurance Law Blog

Reinsurance Law Blog

Tag Archives: depreciation

Ok to depreciate labor costs on property damage claim — Nebraska

Posted in Contractual Liability
In Henn v. American Family Mut. Ins. Co., Henn’s roof was damaged in a hailstorm.  She sued American Family and sought class certification when American Family depreciated labor costs in calculating actual cash value.  Under the policy, the insured will receive an actual cash value payment. If the insured repairs or replaces the damaged property,… Continue Reading

Depreciation of labor in the calculation of actual cash value is against Arkansas public policy

Posted in Contractual Liability, New Case
In Shelter Insurance Company v. Goodner, 2015 Ark. 460, the Arkansas Supreme Court affirmed summary judgment in favor of the insureds that the  depreciation of labor in the calculation of actual cash value is against Arkansas public policy. Shelter insured the Goodner’s mobile home. In the event of a covered loss, Shelter would pay the… Continue Reading
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