Chip Merlin | Property Insurance Coverage Law Blog | July 2, 2017 Florida law is significantly more specific about who may work on, aid in, or prepare a claim for a policyholder. Many insurance restoration contractors, all insurance consultants, and all those non-licensed third parties who help contractors, policyholders and public adjusters with insurance claims… Continue reading Insurance Consultants and People Not Licensed as Public Adjusters Cannot Work on Property Insurance Claims
Tag: Insurance Claims
Florida Statutes of Limitations and Repose Governing Construction Claims Revised to Clarify Accrual Dates Effective July 1
Amandeep s. Kahlon | Buildsmart | July 6, 2017 Florida’s Gov. Rick Scott signed HB 377 providing for revisions to the Florida statutes of limitation and repose governing construction claims. The new law revises Fla. Stat. Sec. 95.11 (Limitations Other Than for the Recovery of Real Property) to clear up some confusion regarding when the… Continue reading Florida Statutes of Limitations and Repose Governing Construction Claims Revised to Clarify Accrual Dates Effective July 1
Water Damage Loss Time Limits and Hidden Damage—What Do Insurers Promise to Departments of Insurance?
Chip Merlin | Property Insurance Coverage Law Blog | June 26, 2017 I spoke about water damage loss at the National Association of Public Insurance Adjusters Annual Convention last week. One issue I discussed was the time limits of water damage. A recent post, Avoiding Denials of Water Damage Claims Based on “Long Term Damage Exclusions” also… Continue reading Water Damage Loss Time Limits and Hidden Damage—What Do Insurers Promise to Departments of Insurance?
Depreciation of Labor Costs When Determining Actual Cash Value: Henn v. American Family
Alycen A. Moss | Property Insurance Law Observer | June 20, 2017 In February, the Nebraska Supreme Court held that it is acceptable for insurance companies to depreciate labor costs when determining the actual cash value (ACV) of damaged property, even when the insurance policy does not define “actual cash value” or “depreciation.” See Henn v.… Continue reading Depreciation of Labor Costs When Determining Actual Cash Value: Henn v. American Family
Does Actual Cash Value Mean Fair Market Value or Replacement Cost minus Depreciation?
Kevin Pollack | Property Insurance Coverage Law Blog | June 4, 2017 What is an insured, who has an “actual cash value” property insurance policy, entitled to recover when their property is damaged, but not a total loss? Is the insured entitled to the cost to repair/replace the property minus depreciation? Or is the insured’s… Continue reading Does Actual Cash Value Mean Fair Market Value or Replacement Cost minus Depreciation?