April 17, 2018
The lawyers at WRRSV are pleased to announce that the Circuit Court of Jackson County, Missouri on July 12, 2017 certified a statewide class of Missouri insurance policyholders having policies issued by Fire Insurance Exchange in McLaughlin v. Fire Insurance Exchange, Case No. 1316-CV11140. The class of plaintiff policyholders constitutes more than 16,000 former or current insureds of Fire Insurance Exchange.
The defendant, Fire Insurance Exchange, is a member of the Farmers Insurance Group® and issues homeowners and other insurance policies sold by Farmers Insurance to cover homes, dwellings and other structures against physical loss. The plaintiff in this class action alleges that Fire Insurance Exchange breached its Missouri property insurance policies by improperly depreciating labor costs when calculating the Actual Cash Value (or “ACV”) payments that it was required to make on covered property claims.
The Circuit Court recently approved the Notice to be mailed to the members of the class. Class Counsel anticipates that the Notice will be mailed sometime in July. A copy of the Circuit Court’s Order certifying the class of Missouri policyholders who obtained policies from Fire can be downloaded here.
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