Appeal Court restores $1M award for fire-damaged property in 'important' insurance decision

By Karunjit Singh ( June 11, 2024, 4:51 PM EDT) -- The Ontario Court of Appeal has reinstated an umpire’s determination that the actual cash value (ACV) of a commercial premises partially destroyed in a fire was $1,084,000, finding that the award was not arbitrary even though it far exceeded the market value of the premises....