Holmes, et al. v . LM Insurance Corp, et al.
Homeowners Depreciation Settlement
Case No. 3:19-cv-00466

Welcome to the Homeowners Depreciation Settlement Website

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 Tennessee and Mississippi, and some commercial property damage insurance claims in Tennessee, Mississippi, and Ohio. The Insurance Companies have maintained that they paid claims when reasonable and appropriate to do so and have denied all allegations that they acted wrongfully or unlawfully.

How do I know if I am a 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, manufactured home, condo, dwelling or rental property insurance policy issued by LM Insurance Corporation, Liberty Insurance Corporation, Liberty Mutual Fire Insurance Company, and Safeco Insurance Company of America, except for those excluded (see FAQ 7 ), who made a Structural Loss claim for property located in Tennessee or Mississippi during the applicable Class Periods, which was a Covered Loss; and (b) all policyholders under any commercial property insurance policy issued by Ohio Security Insurance Company, except for those excluded (see FAQ 7 ), who made a Structural Loss claim for property located in Tennessee, Mississippi, or Ohio during the applicable Class Periods, which was a Covered Loss; and (c) that resulted in an actual cash value payment 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 Tennessee policyholders of LM Insurance Corporation, Structural Loss claims with dates of loss on or after May 31, 2018. For Tennessee policyholders of Liberty Corporation, Liberty Mutual Fire Insurance Company and Safeco Insurance Company, Structural Loss claims with dates of loss on or after October 17, 2018. For Tennessee policyholders of Ohio Security, Structural Loss claims with dates of loss on or after March 2, 2018. For Mississippi policyholders of LM Insurance Corporation, Liberty Corporation, Liberty Mutual Fire Insurance Company and Safeco Insurance Company, Structural Loss claims with dates of loss on or after October 17, 2016. For Mississippi policyholders of Ohio Security, Structural Loss claims with dates of loss on or after March 2, 2017. For Ohio policyholders of Ohio Security, Structural Loss claims with dates of loss on or after March 24, 2018.

What does the Settlement provide?

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
March 23, 2021 
The only way to get a payment if you qualify.
EXCLUDE YOURSELF
January 03, 2021  (passed)
You get no payment. This is the only option that allows you to individually sue Insurers over the claims resolved by this settlement.
OBJECT
January 04, 2021  (passed)
Write to the Court about why you don’t agree with the settlement.
GO TO THE HEARING
9:30 AM on February 05, 2021 (passed)
Ask to speak in Court about the settlement.
DO NOTHING You get no payment. You give up legal rights.

For More Information

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

Mail

Homeowners Depreciation Settlement
c/o JND Legal Administration
PO Box 11050
Seattle, WA 98111