Keyword
actual cash value

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Supreme Court of Canada will not hear appeal from insureds seeking replacement cost instead of actual cash value in fire claim

June 2, 2017 by Canadian Underwriter

A disputed property insurance claim arising from a fire in Ottawa, in which the claimants asked for replacement value but the insurer would only pay actual cash value, will not be heard by the Supreme Court of Canada, the court…

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Court denies replacement value coverage on fire claim after owners plan to build larger structure on same Ottawa site

December 20, 2016 by Canadian Underwriter

In a fire insurance claim, the courts recognize that “the need to rebuild premises which more closely resembled the original” is critical in triggering coverage for replacement value rather than actual cash value, Dutton Brock LLP suggested in a bulletin…