Ryan Schulte, et al. v. Liberty Insurance Corporation, et al.
Ohio Depreciation Settlement
Case No. 3:19-cv-00026

Welcome to the Ohio Depreciation Settlement Website

A class action settlement involving certain Ohio homeowners insurance structural damage claims may provide payments to those who qualify.

What is this lawsuit about?

The lawsuit claims that the Insurance Companies improperly deducted depreciation attributable to costs of labor and other nonmaterial items when adjusting some homeowners’ insurance claims in Ohio. The Insurance Companies have maintained that they paid claims when reasonable and appropriate to do so and has denied all allegations that it acted wrongfully or unlawfully.

How do I know if I am part of the Settlement?

The Court decided that everyone who fits the following description is a member of the Settlement Class:

The Class includes: (a) All policyholders under any homeowners residential property insurance policy issued by Liberty Insurance Corporation, Safeco Insurance Company of Indiana, LM Insurance Corporation, and Liberty Mutual Fire Insurance Company, except for those excluded (see below), who made a structural damage claim for property located in the State of Ohio during the applicable Class periods, which was a Covered Loss; and (b) that resulted in an actual cash value payment during the class period from which Nonmaterial Depreciation was withheld, or that would have resulted in an actual cash value payment but for the withholding of Nonmaterial Depreciation causing the loss to drop below the applicable deductible.

The Class Periods mean the following time periods: For Ohio policyholders of Liberty Insurance Corporation, Structural Loss claims with dates of loss on or after January 28, 2018. For Ohio policyholders of Safeco Insurance Company of Indiana, LM Insurance Corporation, and Liberty Mutual Fire Insurance, Structural Loss claims with dates of loss on or after January 3, 2019.

What does the Settlement provide?

Class Members who complete and sign a claim form and timely mail it to the proper address, or submit the claim form by uploading it on the settlement website, may be eligible for a payment. Under the settlement, the Insurance Companies have agreed to pay Class Members who timely submit valid claims determined as follows: (a) for Class Members to whom all Nonmaterial Depreciation has not been paid, 100% of the estimated Nonmaterial Depreciation that was withheld and not later paid, plus 5% interest on that amount from the last actual cash value payment to the date of Preliminary Approval of the settlement; (b) for Class Members to whom all Nonmaterial Depreciation that was withheld and later paid, 5% interest on the estimated Nonmaterial Depreciation that was initially withheld, from the date of the last actual cash value payment from which Nonmaterial Depreciation was withheld to the date all Nonmaterial Depreciation was paid.

You MUST submit a claim form in order to determine whether you are eligible for and the amount of your settlement payment. If you do not, you WILL NOT receive a settlement payment.

Your Legal Rights and Options

Option and Deadline Description
SUBMIT A CLAIM FORM
July 02, 2021
The only way to get a payment if you qualify.
EXCLUDE YOURSELF
April 16, 2021
You get no payment. This is the only option that allows you to individually sue Insurers over the claims resolved by this settlement.
OBJECT
April 16, 2021
Write to the Court about why you don’t agree with the settlement.
GO TO THE HEARING
1:30 PM on May 18, 2021
Ask to speak in Court about the settlement.
DO NOTHING You get not payment. You give up legal rights.

 

For More Information

Visit this website often to get the most up-to-date information.

Mail

Ohio Depreciation Settlement
c/o JND Legal Administration
PO Box 91096
Seattle, WA 98111