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Actual Cash Value: How to Define an Undefined Term

Actual Cash Value: How to Define an Undefined Term

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Quick Overview

Everyone in insurance knows about actual cash value, right? The term is all over the place and we all think we know what it means, but what does it really mean in practice today? Join us as Crystal Uebelher brings this session and helps us to question what we know and answer the question, what is actual cash value, really?

$129.00

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Duration 1 hour
Location Online Webinar
Formats On-Demand
Instructor Crystal UebelherCrystal Uebelher

Determining the actual cash value of damaged or destroyed property has long been considered a routine process in first-party coverage. In recent years, a trend has emerged to question whether the labor costs to repair or replace an item can be depreciated. We will explore cases defining actual cash value and the new definitions added to policies by some carriers. In this class, you will:

  • Understand why actual cash value is a baseline for indemnity payments.
  • Explore how courts have limited the definition of actual cash value in recent years.
  • Identify whether carriers have been successful in redefining actual cash value in face of court definitions.
$129.00
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