AAIS Products and people you can rely on

AAIS is monitoring the issue of labor costs depreciation relating to its property lines

1/6/2017

AAIS is aware that there has been litigation across several jurisdictions relating to the issue of labor costs depreciation and whether it applies to actual cash value (ACV) terms. Recent case outcomes have not been consistent. However, these case outcomes do not affect AAIS language directly. AAIS will continue to monitor this issue and affiliates are encouraged to contact AAIS’ Office of General Counsel if you have any questions, concerns, or become aware of any case that might benefit the industry.

For questions, concerns, or other information, contact El Cid Balitaan, attorney with AAIS’ Office of General Counsel, by email, or by calling 630-457-3225.