General Contractor Overhead And Profit And AOB Insurance Scams

Gary Wickert | Claims Journal A storm is rising, and it is not the type which causes damage to homes and vehicles. It causes damage of a much more insidious nature. Following a storm or other natural disaster, canvassers hired by the “hail cartel”—lawyers or opportunistic general contractors—can be found blanketing a neighborhood and knocking… Continue reading General Contractor Overhead And Profit And AOB Insurance Scams

Paying Overhead and Profit in First-Party Claims

Gary Wickert | Claims Journal | October 31, 2019 Standard homeowner policies pay personal property claims at actual cash value (ACV), which is the replacement cost (RC) of the damaged property based on its current used condition. In other words, it is valued at what it would cost to replace the property at today’s cost… Continue reading Paying Overhead and Profit in First-Party Claims

Dispute Whether Contractor Overhead & Profit Should Be Included in Actual Cash Value Payment Will Be Decided by State Supreme Court

Daniel Ballard | Property Insurance Coverage Law Blog | June 11, 2019 The Pennsylvania Supreme Court recently agreed to hear argument on the matter of Kurach v. Truck Insurance Exchange.1 Merlin Law Group blogged about this class action lawsuit back in May of 2017 and the link can be found here. Kurach involves a situation where the insureds had… Continue reading Dispute Whether Contractor Overhead & Profit Should Be Included in Actual Cash Value Payment Will Be Decided by State Supreme Court

Colorado Not Replacing Contractor Overhead and Profit Bulletin

Chip Merlin | Property Insurance Coverage Law Blog | May 20, 2019 The Colorado Department of Insurance will not be repealing its longstanding bulletin requiring that contractor overhead and profit be a part of a calculation to determine actual cash value at tomorrow’s stakeholder meeting in Denver. This is fantastic news for all Policyholders and the correct decision by… Continue reading Colorado Not Replacing Contractor Overhead and Profit Bulletin

How To Adjust Actual Cash Value and Overhead and Profit in Colorado—Colorado To Hold Public Forum For Comments

Chip Merlin | Property Insurance Coverage Law Blog | May 3, 2019 The Colorado Division of Insurance will hold a public stakeholder meeting at the Colorado Division of Insurance in Denver on May 21, 2019, regarding its proposal to eliminate one of its long-standing bulletins requiring insurance companies to pay contractor overhead and profit rather… Continue reading How To Adjust Actual Cash Value and Overhead and Profit in Colorado—Colorado To Hold Public Forum For Comments

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