Ill. High Court Rules Against State Farm In Loss Value Dispute
By Celeste Bott (September 23, 2021, 8:50 PM EDT) -- Illinois' top court upheld a win Thursday for a proposed class of homeowners accusing State Farm of automatically depreciating labor costs on top of the cost of materials when handling a property damage claim without disclosing the practice to policyholders, saying the policy is ambiguous and must therefore side with the insured.
In a 6-0 decision, the Illinois Supreme Court said it disputed the conclusion of an appellate panel last July that the plain language of the policy at issue and the relevant Illinois insurance regulation compels the conclusion that labor may not be depreciated. But while State Farm's interpretation reaching...
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