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Will Business Insurance Cover Hackers and Fraudulent Schemes?

I was hacked! Figuratively, that is, my computer and not physically. Hard to tell which is a worse fate. In pre-computer days, one of our worst nightmares was getting held up for our wallets. It was our “money or our lives.” Usually, the perps wanted our cash and credit cards. Assuming we were not physically harmed, this was a nightmare with “limitations.” All we really lost (in addition to peace of mind) was the cash we were carrying, the time spent canceling and replacing credit cards and the tedious trip to the DMV for a replacement driver’s license.…

Insurance Coverage for Vandalism, But Not Theft

We received such positive feedback from readers of our first “war story” described in the August 2, 2018 BLOG (Good Guys Win the Battle: A Recent Property Insurance Settlement War Story), we decided to follow that one with another report from the trenches on a timely topic. However, as the issue we are about to describe is a current matter, we are characterizing it conceptually as a paradoxical insurance coverage issue rather than an existing claim.…

A Recent Property Insurance Settlement War Story

On January 7, 2018, a fire occurred in a building that housed a successful and highly respected mid-sized printing company in Ohio. The fire damaged a considerable section of the building, but the flames did not reach any of the printing equipment. However, both smoke and the water from the firefighters’ efforts to strike the fire did reach and affect the printing equipment.…

What Living Expenses Can I Recover from the Insurance Company?

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.…

Appraisal as an Insurance Policy Remedy

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!…

Determining Optimal Property Loss Recovery Options

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.…

How Does Selling a Property Impact an Insurance Claim?

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.…

Be Alert to Get Maximum Payment for Weather Damage Insurance Claim

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.…

Florida Court Rules on Concurrent Causation

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.…

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