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Depreciating Labor — Yes Or No?

(Updated: April 14, 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

Asset depreciationTimoney 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! 

 

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