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The True Meaning of Replacement Costs

Insurers and their counsel are undoubtedly familiar with the replacement cost endorsement, however some may be unaware of the jurisprudence related to its operation. This article addresses two particular issues that counsel should be aware of when asked to provide coverage opinions on claims under the endorsement: 1) what constitutes “replacement”; and 2) how long does an insured have to replace insured property? To read the full article, click here.

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