Insurer Cannot Deduct Costs Of Labor Depreciations, 6th Circuit Says In Reversal

Mealey's (March 24, 2020, 2:03 PM EDT) -- CINCINNATI — Citing its decision the previous week in Perry v. Allstate Indem. Co., -- F.3d --, (6th Cir. Mar. 18, 2020), the Sixth Circuit U.S. Court of Appeals on March 23 held that an Ohio insurer may not deduct the costs of labor depreciations because its actual cash value insurance policy did not expressly provide for labor-cost depreciation deductions, reversing and remanding a lower court’s ruling that dismissed an insured’s class complaint (Charles Cranfield v. State Farm Fire & Casualty Company, No. 19-3004, 6th Cir.)....