Tennessee Insurance Litigation Blog

Tennessee Insurance Litigation Blog

Legal insights on insurance litigation in the State of Tennessee

The Policyholder’s Perspective from
Brandon McWherter
of Gilbert Russell McWherter Scott Bobbitt PLC
J. Brandon McWherter is a partner at Gilbert Russell McWherter Scott Bobbitt PLC, which has four Tennessee offices in Memphis, Jackson, Nashville, and Chattanooga. Read More
The Insurance Company’s Perspective from
Parks T. Chastain
of Brewer, Krause, Brooks & Chastain, PLLC
Parks T. Chastain, a member in the Nashville, Tennessee law firm of Brewer, Krause, Brooks, Chastain & Burrow, PLLC, focuses on the representation of insurers. Read More

Tag Archives: replacement cost

2017 TENNESSEE UNFAIR CLAIMS PRACTICES REGULATIONS – Replacement Cost Valuation Rules

Posted in Claim Tips, Valuation Issues
I’ve just posted the new regulations promulgated by the Tennessee Department of Commerce and Insurance governing the investigation and disposition of claims arising under certain types of insurance issued to residents in Tennessee.  We’ve attended the hearings that were held on these regulations, and followed the rulemaking process.  Regulation 0780-01-05-.010, entitled Standards for Prompt, Fair… Continue Reading

TN Farm Bureau Changes its Coverage on Roof Claims

Posted in Miscellaneous
I recently learned that Tennessee Farmers Mutual Insurance Company (Farm Bureau) has changed the way it will pay roof claims.  Specifically, a recent endorsement changes roof coverage to actual cash value for roofing materials instead of replacement cost.  This means that roof materials will be depreciated in the event of a roof claim.  For example,… Continue Reading

An Insured Need Not Rebuild at the Same Premises in Order to Recover Replacement Cost

Posted in Claim Tips, Coverage Issues
 Parks’ recent post about whether an insured has to rebuild at the same location in order to recover replacement cost got me thinking, and then researching.  Here’s what I found: Although none in Tennessee, there are a dozen or so cases across the country dealing with the issue of whether an insured has to rebuild… Continue Reading

In Order to Invoke Replacement Cost Coverage, Does An Insured Have to Rebuild at the Same Location?

Posted in Claim Tips
In most cases, the answer is no. Most policies use replacement cost at a specific location as a measure of the maximum recovery that can be afforded under a property insurance policy. Most policies contain a “Valuation” condition similar to the following: B.         Replacement Cost – When replacement cost is shown on the “declarations” for covered property,… Continue Reading