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

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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

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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

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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

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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

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