Tag Archives: Replacement Cost

Connecticut Supreme Court Reaffirms Court’s Limited Power To Review Appraisal Awards

The Connecticut Supreme Court recently handed down an important decision reiterating the high bar to overturning arbitration awards while, at the same time, clarifying a portion of the applicable statute providing for vacating an arbitration award as well as a prior ruling concerning the timing of payment of heldback depreciation. In Kellogg v. Middlesex Mutual … Continue Reading

Potential Conflict Between Suit Limitation Period And Replacement Cost Holdback Under New York Law: Second Circuit Certifies Question

The Second Circuit recently certified an important question to the New York State Court of Appeals, which, while presented in a remarkably straightforward manner, will likely have anything but a straightforward answer: If a fire insurance policy contains (1)  a provision allowing reimbursement of replacement costs only after the property was replaced and requiring the … Continue Reading