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.…
The insurer says, “Okay,” presenting you the workup of a damage estimate and hoping the amount will pass the blink test. But the number isn’t all right with you. You have tried in good faith to resolve your insurance claim for the significant damage to your business, residential real estate or personal property, but the insurance company offered $x and you want/need/deserve and are actually insured for $x-plus-plus-plus!…
One of the most frequently asked questions when assisting a business or residential property owner in adjusting a property insurance loss is: “What are my options for an insurance claim recovery from this loss?” The question, though simple, is complex in nature and thus becomes the driver for most property owners to retain a public insurance claims adjuster, read Alex N. Sill Company, when contending with an insurance loss.…
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.…
