Eighth Circuit Rules Coinsurance Requirement Applies Based on Whether Claim is Actual Cash Value or Replacement Cost Value

The U.S. Eighth Circuit Court of Appeals has held under Arkansas law that a property policy required calculation of a coinsurance penalty based on actual cash value, not replacement cost value, as the claim was for actual cash value. Buddy Bean Lumber Co. v. Axis Surplus Ins. Co., 715 F.3d 695 (8th...