If you received the Notice, then you have been identified as someone who is likely to be a member of the 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 FAQ 13), 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.
A Structural Loss means physical damage to a home, building, manufactured home, condo, rental dwelling, or other structure in Ohio while covered by a homeowners residential, manufactured home, condo, dwelling or rental property insurance policy issued by the companies under (a) and (b) above.
A Covered Loss means a first party insurance claim for Structural Loss that (a) occurred during the Class Periods, and (b) the Insurance Companies or a court of competent jurisdiction determined to be covered under a Ohio insurance policy issued by the companies under (a) and (b) above and resulted in an ACV Payment by the Insurance Companies, or would have resulted in an ACV Payment but for the deduction of Nonmaterial Depreciation. Nonmaterial Depreciation means depreciation of labor costs, overhead and profit, or other non- labor items, and not of materials or sales tax, and that is subtracted from replacement cost value in determining an actual cash value payment. Nonmaterial Depreciation includes application of “depreciate removal”, “depreciate nonmaterial”, and “depreciate O&P” settings within Xactimate estimating software.
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.