Panel: Insurer Is Not Liable For Holdback Depreciation In Hailstorm Coverage Suit

(July 14, 2020, 4:12 PM EDT) -- DENVER — The 10th Circuit U.S. Court of Appeals on July 13 affirmed a lower federal court’s summary judgment ruling in favor of an insurer in a breach of contract and bad faith lawsuit arising from hailstorm damage to 31 townhomes that were managed by the insured, finding that the insurer is not liable for holdback depreciation for the townhome roofs under the unambiguous policy terms (Canyon Springs At Soaring Eagles Townhome Owners Association, Inc., v. Country Mutual Insurance Company, No. 19-1386, 10th Cir., 2020 U.S. App. LEXIS 21549)....

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