Insurer Must Pay Full Contractor Cost, Fla. High Court Says

Law360, Miami (July 8, 2013, 8:52 PM EDT) -- The Florida Supreme Court on Wednesday ruled that replacement cost insurance includes overhead and profit where the insured is likely to need a general contractor's services, saying these costs are no different than any others that would be incurred for repairs.

In a 5-2 split decision, Florida's high court quashed a summary judgment decision won by Florida Peninsula Insurance Co. in the Third District Court of Appeal and remanded Miami resident Amado Trinidad's case for the trial court to determine if there was a “reasonably likely...
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