Reinsurance Law Blog

Reinsurance Law Blog

Tag Archives: replacement cost

O.K. to depreciate labor in property loss — Tenth Circuit applying Kansas law

Posted in Contractual Liability
In Graves v. American Family Mutual, Graves had roof damage and damage to her kitchen ceiling after a hailstorm. Her American Family homeowner’s insurance policy provided for recovery of the “actual cash value” at the time of a covered loss as well as the “replacement cost” of the damaged property once repairs are completed. She… Continue Reading

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

Total or partial loss, replacement cost vs. actual cash value; interpleader 8th Circuit Missouri

Posted in Contractual Liability, New Case
In Federated Mut. Ins. Co. v. Moody Station and Grocery,  Federated insured Moody Station for $225,000.00 for fire loss and other casualties. When the property was damaged by fire, Federated paid Moody Station’s mortgagee $131,898.44, and interpleaded about $40,000 of the remaining $90,000 policy limits to be distributed between Moody Station and its lessee.  Eventually,… Continue Reading

The jury should have been told about coinsurance — Tenth Circuit, Kansas

Posted in Contractual Liability, New Case
In Boardwalk Apartments v. State Auto Property, one of Boardwalk’s eight apartment buildings was destroyed in a fire.  When Boardwalk wasn’t paid enough for the loss, it sued State Auto.  State Auto contended that Boardwalk was underinsured under the policy’s coinsurance provision. Under this provision, Boardwalk’s insurance benefits were reduced if the value of the… Continue Reading
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