Eighth Circuit Affirms Finding of Bad Faith, Award of Costs and Prejudgment Interest

    The Eighth Circuit affirmed the district court’s finding of bad faith and award to the insured of taxable costs and prejudgment interest. Selective Ins. Co. v. Sela, 2021 U.S. App. LEXIS 26062 (8th Cir. Aug. 30, 2021).      The insured suffered two hail storms that damaged his home. In 2010, the first … Read more

Small Business Insurance Costs By State

Business owners across America are starting to realize how expensive it can be to go without small business insurance. With the national average quote being around $65 per month, there really isn’t any excuse to go without coverage. The good news is that we have included links to all 50 state-specific reviews for small business insurance … Read more

South Caroline Holds Actual Cash Value Can Include Depreciation of Labor Costs

    Answering a certified question, the South Carolina Supreme Court held that the insurer could calculate actual cash value (ACV) by including an estimate of the depreciation of embedded labor costs. Butler v. Travelers Home & Marine Ins. Co., 2021 S. C. LEXIS 51 (S.C. May 12, 2021).      Two insureds had their … Read more