Depreciation of Labor in Property Insurance Claims: Guidance From Recent Cases
Advocating From Insurer and Policyholder Perspectives
A live 90-minute CLE webinar with interactive 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
Michael S. Levine
Hunton Andrews Kurth
Mr. Levine has more than 20 years of experience litigating insurance disputes and advising clients on insurance... | Read More
Mr. Levine has more than 20 years of experience litigating insurance disputes and advising clients on insurance coverage matters. He represents and counsels policyholders in insurance recovery and business disputes. Mr. Levine also assists clients regarding claim evaluation and strategy, policy placement and endorsement and broker liability issues. In recent years, he has recovered hundreds of millions of dollars for clients in matters involving virtually every type of insurance policy, including property, D&O, E&O, general liability, employment, environmental, and representations and warranties coverages. Mr. Levine has extensive experience with property damage, business interruption and extra expense claims in the U.S. and abroad, as well as reinsurance claims.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
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