Law360, New York (May 26, 2011, 6:37 PM ET) -- A California state appeals court on Tuesday revived certain claims in a proposed class action accusing State Farm General Insurance Co. of using improper valuation methods that overstate depreciation.
The issue on appeal concerns the proper interpretation of the state's insurance code, particularly a section that requires an appraisal in cases in which property valuation is disputed, according to the California appeals court. State Farm had argued that the appraisal must be undertaken before statutory and contractual interpretation issues, and a lower court agreed. But the...
Calif. Court Revives Part Of State Farm Appraisal Action
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