December 3, 2014

We have a commercial client who suffered a fire damage claim to his retail market. In the course of settlement, the insurance company applied depreciation to the demolition, cleaning, and odor control that is needed on the claim. We do not feel that depreciation is applicable to demolition, cleaning, or odor control methods and should apply only to the replacement or direct repair of the building. We are looking for some guidance on this part of the negotiation.

New Hampshire Subscriber

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