Pulling Back the Covers on the Insurance Industry

By Michael C. Perlmuter, JD, President & General Counsel

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.

The article confirmed my long-held opinion that the primary business of insurance companies is not really selling insurance. Instead, their primary business is simply attempting to make money on…

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What Living Expenses Can I Recover from the Insurance Company?

ALE: Not Just a Beer

By Michael C. Perlmuter, JD, President & General Counsel

and Neal Novak, Regional Vice President

A fire severely damaged your home compelling you to move out while it is being repaired. You gather a few salvageable necessities and vacate the premises expecting your insurance policy to cover living expenses. Your insurance company says, “not so fast, buster” and directs you to the small print in the policy. Uh oh, you weren’t prepared for loopholes.

Hearing this, you drop the double-ply 30 gallon trash bag containing the few worldly possessions saved from the fire and as a result of…

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Corporate Tax Options Available for Casualty Losses on Underinsured or Uninsured Business Property

The importance of proper documentation from a public adjuster

By Michael C. Perlmuter, JD, President & General Counsel

and Donald J. Dragony, CPA, CFF, Senior Vice President, Chief Financial Officer & Director of Forensic Accounting

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.

So, the question is commonly asked…

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Individual Tax Options Available for Casualty Losses on Underinsured or Uninsured Personal Use Property

By Michael C. Perlmuter, JD, President & General Counsel

and Donald J. Dragony, CPA, CFF, Senior Vice President, Chief Financial Officer & Director of Forensic Accounting

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…

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