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

It’s been only about 45 days since Superstorm Sandy struck, and already the first insurance class action has been filed in New Jersey federal court.  In Donnelly v. New Jersey Re-Insurance Company, et al, Case No. 2:33-av-00001 (D.N.J., filed Dec. 13, 2012), the allegations focus on coverage for flood insurance claims made under the

Insurers are starting to deploy adjusters to handle claims from Hurricane Sandy.  An article in today’s Wall Street Journal reports that “Disaster-modeling firm AIR Worldwide estimates the industry’s share of losses at $7 billion to $15 billion. At the high end of that range, Sandy would become the third-most expensive storm for insurers in U.S.

I recently came across two new class action filings against insurance companies that may be of interest to readers of my blog.  One case involves whether it is appropriate to depreciate labor costs in estimating actual cash value.  Another case involves the application of the “made whole” doctrine, where applicable, to insurers’ handling of subrogation

Property insurance policies typically provide for an initial payment on an actual cash value (ACV) basis, which is often calculated as the replacement cost less depreciation.  After the repairs are completed, under many policies the insured can recover an additional payment up to the full replacement cost value (RCV) of the loss.  Insureds have brought