{"id":26958,"date":"2025-08-11T00:00:00","date_gmt":"2025-08-11T04:00:00","guid":{"rendered":"https:\/\/www.resourcepro.com\/bulletin\/district-of-columbia-disb-prohibits-depreciation-of-labor-costs-in-property-insurance-policies\/"},"modified":"2025-08-11T00:00:00","modified_gmt":"2025-08-11T04:00:00","slug":"district-of-columbia-disb-prohibits-depreciation-of-labor-costs-in-property-insurance-policies","status":"publish","type":"bulletin","link":"https:\/\/www.resourcepro.com\/bulletin\/district-of-columbia-disb-prohibits-depreciation-of-labor-costs-in-property-insurance-policies\/","title":{"rendered":"District of Columbia DISB Prohibits Depreciation of Labor Costs in Property Insurance Policies."},"content":{"rendered":"\n<p><strong>DC<\/strong>| The <strong>District of Columbia Department of Insurance<\/strong>, Securities and Banking issued <a href=\"https:\/\/disb.dc.gov\/sites\/default\/files\/dc\/sites\/disb\/page_content\/attachments\/BULLETIN25-IB-001-0812.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">Bulletin 25-IB-001-08\/12<\/a>, <span style=\"text-decoration: underline;\">clarifying that depreciating labor and other nontangible items (such as taxes, fees, and overhead\/profit) in calculating &#8220;actual cash value&#8221; (ACV) for property insurance claims is considered an unfair claims settlement practice under D.C. law. <\/span>As a result, property and casualty insurance policy forms containing provisions that allow for the depreciation of labor will not be approved for use in the District of Columbia.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Depreciation of labor and other nontangible items in ACV calculations is prohibited and viewed as unfair under D.C. Code \u00a7 31\u20132231.17(b)(6).<\/li>\n\n\n\n<li>Insurance policy forms submitted for approval in D.C. <span style=\"text-decoration: underline;\">must not include<\/span> language allowing for labor depreciation.<\/li>\n<\/ul>\n\n\n\n<p><strong><em><a href=\"https:\/\/disb.dc.gov\/sites\/default\/files\/dc\/sites\/disb\/page_content\/attachments\/BULLETIN25-IB-001-0812.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">Click here to see DC Bulletin 25-IB-001-08\/12<\/a><\/em><\/strong><\/p>\n\n\n\n<p><\/p>\n","protected":false},"featured_media":22559,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"department":[252],"state":[275],"class_list":["post-26958","bulletin","type-bulletin","status-publish","format-standard","has-post-thumbnail","hentry","department-department-of-insurance","state-district-of-columbia"],"acf":[],"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/www.resourcepro.com\/wp-json\/wp\/v2\/bulletin\/26958","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.resourcepro.com\/wp-json\/wp\/v2\/bulletin"}],"about":[{"href":"https:\/\/www.resourcepro.com\/wp-json\/wp\/v2\/types\/bulletin"}],"version-history":[{"count":0,"href":"https:\/\/www.resourcepro.com\/wp-json\/wp\/v2\/bulletin\/26958\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.resourcepro.com\/wp-json\/wp\/v2\/media\/22559"}],"wp:attachment":[{"href":"https:\/\/www.resourcepro.com\/wp-json\/wp\/v2\/media?parent=26958"}],"wp:term":[{"taxonomy":"department","embeddable":true,"href":"https:\/\/www.resourcepro.com\/wp-json\/wp\/v2\/department?post=26958"},{"taxonomy":"state","embeddable":true,"href":"https:\/\/www.resourcepro.com\/wp-json\/wp\/v2\/state?post=26958"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}