Panel: Method Of Calculating Estimated ‘Actual Cash Value’ Does Not Breach Contract

Mealey's (September 25, 2017, 3:24 PM EDT) -- ST. LOUIS — The Eighth Circuit U.S. Court Appeals on Sept. 25 found that a homeowners insurer’s method of determining an insured’s estimated "actual cash value" does not breach its replacement cost contract, further finding that there is no basis to certify a class of insureds who incurred “unique, individual covered losses” and no basis to sustain a special master's “burdensome classwide discovery orders” in a hailstorm coverage dispute (In re: State Farm Fire and Casualty Company, Nos. 16-3185 and 16-3562, 8th Cir., 2017 U.S. App. LEXIS 18457)....