Depreciating Labor — Yes Or No?
(Updated: July 31, 2020) May an insurer depreciate labor in a first-party property claim? There’s a split amongst the states and their courts about this thorny issue. We’ve attached a table containing answers, state-by-state… though only a few states have provided any answers or guidance at all. Click here for the table: Depreciation of Labor Chart
Timoney Knox remains committed to providing cutting edge advice, with a specific emphasis on first-party property coverage and the insurance industry. This issue will continue to evolve — keep an eye on this blog for updates!