State Farm Fire and Casualty Depreciation of Labor Arkansas Settlement

Settlement Structure: Claims Made

Active: Closed

Closed Settlement Statement:
According to court documents, the claim submission deadline has passed. Please contact the claims administrator if you have any questions.

Case Summary:

State Farm Fire and Casualty Company is electing to settle a class action alleging that it underpaid certain insurance claims for losses to structures in Arkansas. According to the complaint, when insureds made claims for damage to structures in Arkansas, the company depreciated labor costs when figuring the actual cash value (ACV) for repairs or replacements. The complaint claims that this was a breach of the company’s insurance contracts.

Docket Number:

4:14-cv-04001

Company: State Farm Fire and Casualty Company

Filing Deadline: July 1, 2020

Class Period: May 1, 2010 to December 6, 2013

Objection Deadline: May 2, 2020

Exclusion Deadline: May 2, 2020

Final Approval Hearing: June 1, 2020

Proof of Purchase:

Presumably State Farm’s records will be used for verification.

Eligibility:

You may be eligible if you are a person or entity who received an actual cash value payment, directly or indirectly, from State Farm for loss or damage to a structure located in Arkansas that occurred between May 1, 2010 and December 6, 2013, and where labor was depreciated in calculating the ACV payment.

You are not eligible if you received payment from State Farm in the full amount of insurance shown on the declarations page of your policy.

Typical Settlement Amount:

Varies. (A) Group A: labor depreciation deducted, not recovered, did not complete repairs in full, 100% of depreciation plus 5.25% interest per year. (B) Group B: labor depreciation deducted, recovered part of the depreciation and/or complete repairs in full, 75% of depreciation plus 5.25% interest per year. (C) Group C: labor depreciation deducted, recovered all depreciation, 10% of depreciation withheld and then paid.

Total Settlement Amount: Unknown

Class Representative Proposed Incentive Fee:

$9,500

Law Firms:
Crowley Norman LLP
Kessler Topaz Meltzer Check LLP
Murphy Thompson Arnold Skinner & Castleberry
Taylor Law Partners

Claim Form: State Farm Fire and Casualty Depreciation of Labor Arkansas Settlement Claim Form

Case Name: Stuart, et al. v. State Farm Fire and Casualty Company

Settlement Website: State Farm Fire and Casualty Depreciation of Labor Arkansas Settlement Website

Claims Administrator:
JND Legal Administration

Claims Administrator Contact Information:

Stuart v. State Farm Settlement Administrator
c/o JND Legal Administration
P.O. Box 91209
Seattle, WA 98111
info@stuart-v-statefarm.com

Tags: Actual Cash Value, Depreciation of Labor Costs, Insurance