I recently posted about a court in Minnesota permitting the insured to seek the Replacement Cost Value (“RCV”) of its loss even though the property had not been repaired or replaced during ligation delays. Earlier this month, the Florida 11th Judicial Circuit for Miami-Dade County offered the Florida perspective on the subject.1

Continue Reading Florida Law on Post-Loss Obligations and the Recovery of RCV Benefits

I recently posted about a court in Minnesota permitting the insured to seek the Replacement Cost Value (“RCV”) of its loss even though the property had not been repaired or replaced during ligation delays. Earlier this month, the 11th Judicial Circuit for Miami Dade County offered the Florida perspective on the subject.1

Continue Reading Florida Law on Post-Loss Obligations and the Recovery of RCV Benefits

Brothers, sisters, elders, and pastors better think twice before getting insurance with Church Mutual Insurance Company. Church Mutual claims managers will read the insurance policy looking for the most ingenious way not to pay a church following a disaster. Proof of this is found in a recent Hurricane Michael case where Church Mutual successfully argued that it had no obligation to pay any monies unless the policyholder church made a formal election to get paid on an actual cash value basis.
Continue Reading The Devil Is in the Details When Making a Claim with Church Mutual Insurance Company

In a paper worthy of law review publication, Michael Cassel has written an excellent review of Florida’s changing law regarding replacement cost and actual cash value. Exploring The Application of Actual Cash Value Versus Replacement Cost Value in Florida Property Insurance Claims, is a must read for anybody wanting to have a full understanding of Florida’s somewhat complex and changing treatment of replacement cost recovery versus actual cash value.
Continue Reading Florida Replacement Cost and Actual Cash Value: A Study by Michael Cassel

The typical property insurance policy allowing for replacement cost valuation is often taken for granted today. A hundred years ago, the product was commercially unavailable.  Concerns for incenting the policyholder to commit fraud and arson was a primary concern disallowing the replacement cost product to be sold.
Continue Reading Replacement Cost Policies Were Originally Illegal Out of Concern For Fraud and Arson

Florida is becoming much stricter regarding actual cash value proof. I recently warned about this in Actual Cash Value Proof Is Important Under Most Replacement Cost Policy Disputes. My assumption is that insurance defense lawyers are teaching their insurance company adjusters that some less savvy policyholders, restoration contractors, lawyers, and public adjusters are missing this basic requirement. A good example where a policyholder needlessly lost a case is from a common Hurricane Sally lawsuit involving a Presbyterian church versus Church Mutual Insurance Company.1
Continue Reading Actual Cash Value Estimates Need To Be Made In Florida—How A Church Lost To Church Mutual