Tag Archives: depreciation

Can an insurance company depreciate labor costs in determining actual cash value?

Years ago, there was a comedy ensemble variously called “The Dead End Kids,” “The East Side Kids,” and, finally, “The Bowery Boys.”  (They were made famous in the 1938 Cagney/Bogart film, “Angels With Dirty Faces.”)  The protagonist of the group was a character named “Slip” Mahoney, played by the actor Leo Gorcey. Slip would routinely … Continue Reading

Actual cash value and replacement cost

Large first-party property damage cases often come down to a battle of accountants.  In other words, unlike Olympic beach volleyball, they’re usually not particularly thrilling to watch.  (Not that I have anything against accountants.)  But the results of the battle can have a major impact on the policyholder’s balance sheet.  How is the policyholder’s claim … Continue Reading
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