Northeast Zone District of Columbia The District of Columbia Department of Insurance, Securities and Banking Bulletin 25-IB-001-08/12, dated August 11, 2025, addresses “the depreciation of labor expenses and other nontangible items in the definition of "actual cash value" (“ACV”) in property insurance policies.” The Bulletin provides the definition of depreciation and notes that labor, unlike physical materials, does not lose value or break down over time. The Department fu