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West Bend Mutual Improper Depreciation of Labor Class Action

When an insurance company calculates a payout for property damage, what part of the replacement value gets depreciated? The complaint for this class action alleges that West Bend Mutual Insurance Company improperly depreciates the cost of labor for replacing or restoring the property, even though labor does not depreciate.  Read more

West Bend Mutual Insurance Company Building

Cincinnati Insurance Company Depreciation of Labor in Payouts Class Action

Can an insurance company calculating a payout for property damage depreciate labor costs? This class action brings suit against the Cincinnati Insurance Company alleging that it should not have depreciated labor in its calculations of payouts for damage to insured properties.  Read more

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Society Insurance Improper Depreciation of Labor IL, TN, WI Class Action

When an insurance company calculates a payout for damage to an insured property, the calculation can be made in different ways. This class action takes issue with the calculations of Society Insurance, A Mutual Company, alleging that, in determining the actual cash value (ACV) of a loss, it improperly depreciates labor costs.  Read more

Society Insurance Sign and Building

Frankenmuth “Replacement Cost Less Depreciation” Calculations Class Action

Frankenmuth Mutual Insurance Company offers policies for property insurance. When Frankenmuth calculates the actual cash value (ACV) of losses in certain states, it uses a “replacement cost less depreciation” method. The complaint for this class action alleges that Frankenmuth, in calculating payouts, improperly depreciates labor.  Read more

Frankenmuth Insurance Building

Auto-Owners Insurance Claims Depreciation of Labor Multi-State Class Action

When an insurance company calculates a payout for property damage, it may take the cost of a new equivalent structure, then subtract depreciation. But can depreciation be subtracted from labor costs? In certain states, or under certain policies, it cannot, claims the complaint for this class action. It brings suit against Auto-Owners Insurance Company, claiming  Read more

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Ohio Insurance Claims Nonmaterial Depreciation Settlement

This settlement resolves a class action against four insurance companies: Liberty Insurance Corporation, Safeco Insurance Company of Indiana, LM Insurance Corporation, and Liberty Mutual Fire Insurance Company. The complaint alleged the companies improperly deducted depreciation on nonmaterial costs like labor when adjusting claims.  Read more

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Homeowners Insurance Depreciation Settlement

This settlement resolves a class action against a number of insurance companies—LM Insurance Corporation, Liberty Insurance Corporation, Liberty Mutual Fire Insurance Company, Safeco Insurance Company of America, and Ohio Security Insurance Company. The lawsuit alleged that these companies should not have deducted depreciation on labor and other nonmaterial costs from homeowners’ payouts in Tennessee and  Read more

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USAA Nonmaterial Depreciation Settlement

This settlement resolves a class action against USAA General Indemnity Company, United Services Automobile Association, USAA Casualty Insurance Company, and Garrison Property and Casualty Insurance Company. The complaint claimed the companies had improperly deducted nonmaterial depreciation when adjusting certain claims in Tennessee and Mississippi.  Read more

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State Auto P&C Depreciation of Labor on MI, TN, KY, or OH Claims Class Action

State Auto Property and Casualty (P&C) Company offers personal and commercial lines of property insurance. According to the complaint for this class action, when calculating property loss or damage payouts, it depreciates non-material items, such as labor, something the complaint claims is improper.  Read more

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State Farm Fire and Casualty Depreciation of Labor Arkansas Settlement

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  Read more

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