News

• Putting a value on plant and machinery

  For businesses that rely on key equipment, underinsurance can have unexpected and severe consequences. Simply using the purchase cost for valuing assets is a mistake made by many, resulting in inaccurate sums insured and inadequate claim settlements.

  21/08/2017
• Insurers’ Duty to Speak: Silence is not always golden

  The Court of Appeal did not confine the duty to speak to insurance contracts but made it clear that the principle was of general application.

  14/08/2017
• When insurance customers lie

  As the insurance industry pushes ahead into the next decade, adapting to change and, in some cases, leading change, those committed to the industry and its purpose face an underlying tension that they all wish would just go away.

  09/08/2017
• Summer weather safety risks & preparation

  Summer may be a time for sunshine, warm weather and outdoor fun, but it also brings with it the risk of severe storms and danger to both people and property.

  04/08/2017
• What is a “Warranty” in Insurance

  Insurers have the right, seldom exercised, to limit their risk by placing warranties in their policies that state if the warranty is breached the policy is void as of the breach.

  19/04/2017
• 8 tips for writing better claims letters

  In a world where Twitter, emoticons, text messages, emails and social media have become the preferred means of communication, for claims professionals, there is still a need to contact policyholders and claimants in writing.

  27/02/2017
• Who has the responsibility to advise insureds about policy limits?

  Insurance companies sell to the insured the coverage requested: Carriers have no obligation to force, or even advise, the insured about the limits of liability of automobile liability insurance that should be carried by the insured. Rather, the insurer is obligated only to provide the insurance coverages ordered, as some insureds found out when they tried to convince a court to provide liability limits that were not ordered because they believed, as longtime customers, they should have been advised to carry higher limits.

  23/02/2017
• 5 property insurance risks to watch [infographic]

  Although property insurance rates continue to decline, businesses must still consider a range of critical risks to their physical locations and assets.

  22/02/2017

• A look at replacement cost value vs. actual cash value

  How are claims adjusters supposed to establish a definitive price? The first step lies in establishing the difference between two key concepts—Replacement Cost Value (RCV) and Actual Cash Value (ACV).

  22/11/2016
• A look at replacement cost value vs. actual cash value

  How are claims adjusters supposed to establish a definitive price? The first step lies in establishing the difference between two key concepts—Replacement Cost Value (RCV) and Actual Cash Value (ACV).

  22/11/2016
• What every adjuster should know before working in a catastrophe zone

  For adjusters who haven't experienced total devastation, it may be hard to imagine.

  18/05/2016
• 7 things to do to prepare for hurricane season

  Even areas well away from the coastline can be threatened by dangerous flooding, destructive winds and tornadoes

  17/05/2016
• How Weather Affects Your Wealthy Clients

  Severe weather — of the icy variety or the fiery — can overwhelm homeowners without appropriate coverage

  29/03/2016
• From Trash to Treasure: Salvor Can Help to Manage Losses

  When crises occur, one person the claims adjuster, insurer and insured should consider calling is a salvor — he or she can be a valuable partner in helping to clean up the trash, and broker the sale of any salvageable items, according to Hilton Harvison Jr., catastrophe team manager at Callan Salvage & Appraisal Co. Inc. in Memphis, Tenn.

  24/03/2016
• 5 Factors to Consider for Catastrophe Claims

  Some aspects of claims are easy to overlook in the rush to service insureds. When a major catastrophe hits, it is frequently an “all hands on deck” situation. Some adjusters are seasoned professionals, veterans of multiple catastrophes. They understand the delicate balance of managing an overwhelming workload while serving the interests of all stakeholders in the process.

  15/03/2016
• Wildfires can damage homes without actually burning them

  In 2015, more than 9 million acres were burned in the United States as a result of wildfires. The National Interagency Fire Center reports that significant fire potential was normal across most of the United States for the first few months of 2016, with above normal potential in the Great Lakes states, the Ohio and Tennessee valleys, and the Hawaiian Islands in March and April.

  10/03/2016
• Flood deductible was $19.2M, court rules in Hurricane Sandy case

  The U.S. District Court for the Southern District of New York has ruled, in a Hurricane Sandy case, that a flood coverage deductible was $19.2 million, as insurers contended, and not $100,000, as the insured argued.

  09/03/2016