Depreciation of Labor Costs
Auto-Owners (Mutual) Depreciation of Labor MO and WI Class Action
Auto-Owners (Mutual) Insurance Company also sells property coverage policies for residential and commercial buildings. But the complaint for this class action alleges that Auto-Owners regularly pays policyholders in Missouri and Wisconsin less than they should get for damage to structures using the “replacement cost less depreciation” methodology, because it deducts depreciation on non-material things like Read more
State Auto Nonmaterial Depreciation IL, KY, MS, OH, TN Settlement
This settlement resolves a class action about underpaid claims against State Auto Property and Casualty Company, State Automobile Mutual Insurance Company, State Auto Insurance Company of Ohio, Milbank Insurance Company, and Meridian Security Insurance Company. The complaint alleged that the companies improperly deducted nonmaterial depreciation from structural loss claims for properties in Illinois, Kentucky, Mississippi, Read more
Liberty Mutual Fire Insurance Manipulation of Xactimate Class Action
This class action, brought against Liberty Mutual Fire Insurance Company, concerns the calculation of actual cash value (ACV) for structural damage to buildings. The complaint alleges that, when figuring ACV payments for claims, Liberty Mutual subtracts depreciation from labor costs, when it should not. Read more
State Farm Fire and Casualty Depreciation of Labor Alabama Settlement
State Farm Fire and Casualty Company is settling a class action that challenged its depreciation of estimated costs of labor and other non-material costs for the repair or replacement of damaged structures that were subtracted from its actual cash value (ACV) payouts to Alabama policyholders. The complaint alleged the company had breached their policies and Read more
Erie Insurance Nonmaterial Depreciation Ohio Settlement
Erie Insurance Company and Erie Insurance Exchange are settling a class action alleging that they improperly subtracted depreciation from costs of labor and other nonmaterial items on some homeowners’ insurance claims in Ohio. Read more
GuideOne Mutual Depreciation of Future Labor Class Action
When an insurance company figures the actual cash value (ACV) of a building that must be repaired or replaced, does depreciation apply to the full price of the building? The complaint for this class action takes issue with the practice of GuideOne Mutual Insurance Company in allegedly depreciating labor in the calculation of its payouts. Read more
Liberty Mutual Personal Insurance Depreciation of Labor Texas Class Action
This class action brings suit against Liberty Mutual Personal Insurance Company (LMPIC), alleging that in calculating actual cash value (ACV) for damage to property, it should not depreciate labor costs. The complaint is careful to state that it is objecting to the depreciation of “future labor, yet to be incurred…” Read more
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
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
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