Nabila Rahim | Zelle With its March 25 decision in Schoening Investment LP v. Cincinnati Casualty Co., the U.S. Court of Appeals for the Sixth Circuit recently joined a growing list of courts that have considered whether to depreciate labor costs to determine actual cash value.[1] The court relied on essential contract interpretation principles to evaluate… Continue reading 6th Circ. Ruling Highlights Split On Labor Cost Depreciation
Tag: Actual Cash Value
Court Reaffirms That Actual Cash Value Includes Labor and Overhead, Not Just Materials
Corey Setterlund | Marshall Dennehey Greenaker v. Universal Prop. & Cas. Ins. Co., Case No. 2D2024-1964, (Fla. 2nd DCA May 8, 2026). The plaintiffs filed a breach of contract suit against Universal for refusal to pay for all of plaintiffs’ damages from a storm in November 2020. Universal filed a motion in limine to prevent the… Continue reading Court Reaffirms That Actual Cash Value Includes Labor and Overhead, Not Just Materials
When Replacement Cost Coverage Hits an Actual Cash Value Roadblock
Advise & Consult, Inc. A recent Third Circuit decision involving Craig Kimmel and Massachusetts Bay Insurance Company offers a cautionary lesson for policyholders, public adjusters, and coverage counsel handling property claims in New Jersey. The dispute shows how replacement cost coverage can narrow quickly when repairs have not been completed and the insured has not… Continue reading When Replacement Cost Coverage Hits an Actual Cash Value Roadblock
Avoid a Clash over Cash: The Perks of Defining Actual Cash Value in a Policy
Nicholas Smetzer | Zelle Picture if you will a quiet Texas home. It’s unremarkable, cozy, and most importantly for the purposes of this article, insured. All is well at this humble domicile until disaster strikes in one of the many forms that the Texas climate can unleash. The culprit could be wind, water, or hail;… Continue reading Avoid a Clash over Cash: The Perks of Defining Actual Cash Value in a Policy
Defining Indemnity in the Context of Actual Cash Value Calculations
Jonathan C. Held and Heidi Hudson Raschke | J.S. Held “The basic premise of traditional property insurance is the concept of indemnity. The insured who suffers a covered loss is entitled to receive full, but not more than full, value for the loss suffered, to be made whole but not be put in a better… Continue reading Defining Indemnity in the Context of Actual Cash Value Calculations