How ACV is determined, whether labor cost can be depreciated, and the rules on releasing withheld recoverable depreciation.
Actual Cash Value rule
No Wyoming authority directly addresses ACV computation for property-insurance claims (including whether labor/GCOP is depreciable); Wyoming does have general personal-property valuation case law (market value / intrinsic value), but not specifically an insurance ACV formula.
A specialty insurance-law survey confirms Wyoming has no applicable case law, statute, or administrative rule addressing calculation or depreciation of general contractor overhead and profit (GCOP), though the Wyoming Supreme Court has intimated it views contractual ACV provisions in a manner consistent with other jurisdictions. Separately, for general personal-property loss (not specifically insurance ACV), Wyoming measures damages by fair market value or, absent an ascertainable market value, intrinsic value to the owner (Broyles v. Broyles, 711 P.2d 1119 (Wyo. 1985); Shikany v. Salt Creek Transp. Co., 45 P.2d 645 (Wyo. 1935)).
Citation: Broyles v. Broyles, 711 P.2d 1119 (Wyo. 1985); Shikany v. Salt Creek Transp. Co., 45 P.2d 645 (Wyo. 1935) (general personal-property valuation, not insurance-specific).
Source: https://www.mwl-law.com/state/wyoming/
RESEARCHED and confirmed via a specialty insurance-law state survey -- Wyoming genuinely has no ACV-specific insurance authority, independently corroborating the earlier 'None found' assessment. The general personal-property valuation cases are informative context but not squarely on point for an insurance ACV computation.
ACV statute or regulation
No Wyoming statute defines the ACV computation formula; Wyoming has adopted the general Unfair Claims Settlement Practices framework (Wyo. Stat. Section26-13-124), but ACV computation itself is left to policy language and case law.
Wyoming has adopted the NAIC Unfair Claims Settlement Practices Model Act framework (Wyo. Stat. Section26-13-124, Wyoming Rules and Regulations Ch. 33) governing claims-handling conduct generally -- prompt investigation, good-faith settlement, and similar duties. No Wyoming statute specifically defines how actual cash value or depreciation is to be computed for property-insurance claims.
Citation: Wyo. Stat. Section26-13-124 (general unfair-claims-practices framework, not an ACV-computation formula).
Source: https://uphelp.org/claim-guidance-publications/insurance-consumer-rights-in-the-state-of-wyoming-2022/
RESEARCHED. Confirmed this state has adopted the general NAIC Unfair Claims Settlement Practices Model Act framework (governing claims-handling conduct, timelines, and good faith), but no specific statute defines the ACV computation formula (i.e., whether/how depreciation, labor, or overhead are calculated) -- that question is left to policy language and case law.
Recoverable depreciation holdback
No Wyoming statute sets a holdback release deadline. Secondary sources note Wyoming lacks the statutory protections some other states provide around aging-roof ACV conversions and depreciation holdbacks.
No Wyoming statute or regulation specifically governing the timing or process for paying withheld recoverable depreciation was found. Consumer-facing sources note Wyoming insurers have been converting older roofs to ACV coverage at renewal 'without the statutory protections that exist in some other states' -- an explicit confirmation that Wyoming lacks this kind of statutory regulation, unlike states such as Colorado or California.
Source: https://www.roofingstormdamage.com/roofing/wyoming
RESEARCHED from scratch (prior entry was blank). No holdback-timing statute found; a secondary consumer-advocacy source explicitly confirms this is a regulatory gap in Wyoming relative to other states.