New Arkansas Insurance Department Bulletin on Depreciation of Labor

On August 1, 2017, The Arkansas Insurance Department issued Bulletin 10-2017 that rescinds Bulletin 13-B-2013.1 Specifically, Bulletin 10-2017 states “any prior communications or notices from the Arkansas Insurance Department. . . that prohibited depreciation of labor, are hereby rescinded.” Bulletin No. 10-2017 provides that an insurer may allow expense depreciation when determining a loss under…