Depreciation of Labor in Property Insurance Claims: Guidance From Recent Cases
Advocating From Insurer and Policyholder Perspectives
Recording of a 90-minute CLE webinar with Q&A
This CLE webinar will address the application of depreciation to the labor cost component of estimated replacement cost value in determining actual cash value (ACV) under homeowners' and commercial property insurance policies. The panel will provide practical guidance regarding labor costs and other non-physical cost items, such as contractor overhead and profit and whether these items should be depreciated in reaching an ACV adjustment of a property insurance claim. The panel will also address issues from both policyholder and insurer perspectives, discuss ongoing litigation and recent decisions showing that courts continue to reach conflicting results, and explain effective arguments in advocating for or against these claims.
- Recent cases
- Policyholder perspectives
- Insurer perspectives
- Best practices and case studies
- Final considerations
The panel will review these and other key issues:
- Which jurisdictions generally allow for depreciation of labor in property claims?
- What are the most important lessons from recent cases?
- What are compelling arguments in advocating for or against these claims?
Jonathan C. Held
President and CEO
Mr. Held has consulted on many of the largest and most complex catastrophic insurance claims in history, including the... | Read More
Mr. Held has consulted on many of the largest and most complex catastrophic insurance claims in history, including the 1993 and 2001 terrorist attacks on the World Trade Center in N.Y., the AOL Time Warner Center fire in N.Y., The Amtrak Superstorm Sandy litigation, and many of the world’s most visible claims. He is widely considered the expert of choice in large complex “bet the farm” cases. With an unparalleled reputation in the dispute resolution arena, Mr. Held has been a panelist in hundreds of claims and was the party appointed appraiser in the four largest claims ever to be resolved in the appraisal process. Throughout his career, he has testified in numerous courts across the U.S. and has considerable experience as an arbitrator and umpire.Close
Sergio F. Oehninger
Hunton Andrews Kurth
Mr. Oehninger represents companies in complex insurance coverage and bad faith disputes nationally and internationally.... | Read More
Mr. Oehninger represents companies in complex insurance coverage and bad faith disputes nationally and internationally. He counsels multinational corporations on insurance coverage and risk management issues arising in various industries--including financial services, retail, energy, technology, real estate, construction, and hospitality. Mr. Oehninger’s insurance coverage advice focuses on risks such as cyber and data breach; commercial general liability; directors and officers; professional liability; employment practices; property and casualty; business interruption; excess, umbrella, and integrated risks; and other insured and reinsured risks under occurrence based or claims-made policies.Close
Heidi Hudson Raschke
Ms. Raschke has spent her legal career representing commercial insurance clients in complex coverage disputes. She... | Read More
Ms. Raschke has spent her legal career representing commercial insurance clients in complex coverage disputes. She partners with her clients, developing close relationships with them, and enabling the collaboration that best serves their unique needs. Depending on the case or client, the approach could range from pre-litigation counseling, to alternative dispute resolution, through discovery, summary judgment briefing, and trial. Ms. Raschke has significant experience representing commercial insurers in sophisticated first-party property coverage matters and other complex coverage disputes involving directors and officers liability insurance, errors and omissions liability insurance, professional liability insurance, comprehensive general liability insurance, financial institution bonds, and bad faith litigation. She regularly speaks and authors articles regarding the commercial insurance industry and she is a past chair of the ABA Tort Trial and Insurance Practice Section's Property Insurance Law Committee.Close