Archives: Actual Cash Value

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Class Action on Depreciation of Labor on Property Insurance Claims: New Arkansas Supreme Court Decision

In a putative class action pending Arkansas federal court, a question of law was certified to the Arkansas Supreme Court regarding whether labor may be depreciated on property insurance claims, if the insurance policy does not define the term “actual cash value” (see my May 8, 2013 blog post on the federal court’s certification of … Continue Reading

Enforceability of 180-Day Requirement for Recovering Replacement Cost Holdback Addressed By Southern District of New York

A federal court in New York recently cast light on the permissibility of property insurance policy provisions that require an insured to repair or replace damaged property within a certain period of time in order to be compensated for the full cost of the repair or replacement, instead of just the actual cash value of … Continue Reading
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