Consider the following situation which poses what I like to refer to as a “law school exam question.” The issue at hand arose when an insured had a contract to sell his property, but prior to closing, the building sustained a fire. Your understanding will likely result in a smoother sale of your business or home and get more dollars faster into the account of the “right” party.…
Strap on your chin strap and this QB is going to take you inside the insurer’s operations center and allow you a sneak peek at what they might be thinking and doing to minimize their responsibility to their business and individual policyholders. This is a timely, important insight to anyone with a commercial or home owner insurance claim in process or anyone with a potential future claim. Furthermore, the following should be kept top of mind down the road if and when insurance companies are generating underperforming financials.…
The State of Florida is known for giving us pristine beaches for winter get-aways and views of spectacular space missile launches. Now, beyond family vacations and rocket ships, a recent insurance-related case adjudicated in Florida rendered a ruling from which insureds may be able to benefit in the future.…
Property losses that occur to condominium properties and individual units within are among the most difficult insurance losses for insureds to manage correctly and appropriately.…
I subscribe to the digital version of Insurance Journal, a trade publication dedicated to reporting the most current trends and events in the insurance industry. No one can read each Journal “cover to cover.” The technical content tests one’s concentration. That said, my mind was attracted to an article entitled “P/C Insurers Caught Between Slowing Premium Growth and Rising Loss Ratios” in a recent issue.…
Alex N. Sill Company typically represents insured business policyholders in connection with adjusting property claims from insured perils such as a fire, hurricane, tornado and other calamities. In most cases, our business clients, fortunately, have sufficient insurance to cover the damages. However, there are instances where a business owner is either not insured or is underinsured vis a vis the damages sustained.…
Catastrophic losses to one’s home or personal use property are tragic in nearly every sense. Fires, hurricanes, tornadoes and the like can wipe out your place of living, injure your loved ones and cause financial disaster. It is especially tragic from a financial viewpoint, when a homeowner is either under-insured or uninsured.…
No company, including yours, is immune from employee theft. In fact, according to the U.S. Chamber of Commerce, employee theft is costing American businesses $40 billion annually and is increasing by 15% per year. In the past, we recognized employee theft as “raw materials walking out the backdoor.” Today’s trends indicate a dramatic shift towards more sophisticated “crimes” involving fraud, embezzlement or skimming often taking place over several (or many) years, usually involving older workers than younger workers and often involving the company computer network.…
Want to know how reliable a car might be, ask a mechanic. Want to know how reliable your insurance policy might be, ask an adjuster – a public adjuster. Public adjusters document damage and adjust property insurance claims on behalf of the business owner. We are the policyholders’ advocate to ensure your claim is prepared, presented and adjusted so that your best interests are protected. In this article, we will outline several insurance coverages and clauses you need to know about so that you can protect your assets in case the unfortunate happens.…
