Property Insurance Roundtable

Adjusters International
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  • BUSINESS NEWS

Adjusters International's Property Insurance Roundtable features property insurance experts discussing current issues affecting first party claims. Each podcast focuses on a critical topic that is currently trending within the property insurance industry and includes real life examples intended to improve disaster preparedness.

  1. 04/04/2019

    Legislative Update: Issues Affecting the Public Adjusting Industry

    Experts discuss the legislative efforts supported by the National Association of Public Insurance Adjusters (NAPIA) regarding the Unauthorized Practice of Public Adjusting (UPPA), issues surrounding Assignment of Benefits post-disaster, and more. "The National Association of Public Insurance Adjusters (NAPIA) was established in 1951 to promote a higher standard for policyholder advocacy. Public insurance adjusters are licensed to serve the general public and deliver knowledgeable and experienced representation when filing a claim for property damage. The founding members of NAPIA envisioned an association that would provide the appropriate resources for policyholder advocates in pursuit of successful claims resolution.1" 1. https://www.napia.com/about ↩ Key Takeaways: [1:07] What are the biggest legislative challenges in the U.S. today? The Unauthorized Practice of Public Adjusting (UPPA) Assignment of Benefits Restrictions on public adjusters' rights to practice [3:43] How are these challenges helping or hurting both consumers and insurance professionals? Many State insurance departments don't have regulatory authority over non-licensed individuals Home and business owners are getting scammed post-disaster by those who are not licensed to adjust their claim [9:58] What are the major legislative priorities right now? Opening the Model Bill up to add in UPPA language [12:03] Recent examples of recent major Case Settlements/Briefs. [17:25] Future legislative efforts of Public Adjusters Achieve licensing in all 50 States Five States do not license: Alabama, Arkansas, Alaska, Wisconsin, and South Dakota [19:31] How can listeners help achieve future legislative goals in support of policyholders, consumers, and other insurance professionals? Insurance is regulated at the State level Contact your State Representatives   Panelists: ● Brian Goodman — Principal at Kramon & Graham, PA ● Greg Raab — Vice President & Chief Marketing Officer at Adjusters International and Tidal Basin   Moderators: ● Rachele Drinkwine — Operations Coordinator at Adjusters International and Tidal Basin   Mentioned in This Episode: Adjusters International National Association of Public Insurance Adjusters (NAPIA) National Association of Insurance Commissioners (NAIC)

    22 min

  2. 01/22/2019

    Ordinance or Law Coverage: Code for Recovery!

    This discussion is about ordinance or law coverage and how to insure for this potential exposure. After a disaster causes property damage or loss many policyholders discover that rebuilding the structure to conform to the latest building codes can add 50% or more to their recovery cost. Then comes the unpleasant surprise of discovering the ordinance or law exclusion that prevents a full recovery. With building codes, such as sprinkler systems and handicap accessibility, frequently changing, it is important to understand what your insurance excludes and how to acquire adequate coverage.   Key Takeaways: [1:47] What is the ordinance or law exclusion? [3:59] What are the three distinct areas of uninsured losses under the ordinance or law exclusion? [10:00] How to determine if the exclusion will apply and what its probable expense will be on the loss adjustment? [12:59] How can policyholders protect themselves from the ordinance or law exclusion? [18:26] What types of coverages are available for policyholders to counteract the ordinance or law exclusion? [24:31] Is it true that once the need for ordinance or law coverage is established policyholders must ask how much of each coverage is needed? [27:41] Are there any circumstances in which the building ordinance or law coverage would not apply? [30:38] Who can the insured reach out to for questions and insurance concerns regarding ordinance or law coverage? [32:00] How does the ordinance and law exclusion affect business income and extra expense coverage? [34:48] What role could ordinance and law play when a building has contiguous walls to another structure?   Panelists: ● C. Todd Thomas, Executive Director at Adjusters International and Member of the Society of Risk Management Consultants ● Jim Mahurin, Risk Management Consultant and Member of the Society of Risk Management Consultants ● John Marini, President, and CEO at Adjusters International ● Luis Esteves, Principal, and Executive General Adjuster at Jansen/Adjusters International   Moderator: ● Marjorie Musick, Social Media Specialist at Adjusters International/Basloe, Levin & Cuccaro, and Jansen/Adjusters International   Mentioned in This Episode: Adjusters International   For further information on this topic, please read our Adjusting Today® article: "Ordinance or Law Coverage: Code for Recovery!"

    37 min

  3. 01/22/2019

    Proving an Insured Loss: Policyholders Need Experts Too!

    Today, we will be discussing how experts can benefit policyholders prove an insured loss. More and more insurance companies are using experts to support their side of a claim settlement. That is why today's policyholder must often take advantage of similar professional resources to help prepare, support, and settle their claims. Understanding and utilizing the coverages available for this purpose can help protect the insured not only against financial loss but for the cost of recovering it. Our experts will review the basics of loss preparation cost coverage including what it is, why it's needed, and how to ensure you have purchased the right type and the amount of coverage.   Key Takeaways:   [1:58] Why is it important to know who is who in the insurance claims process? [2:58] What types of professionals who may participate in a policyholder's property loss work for an insurance company? [3:25] What types of professionals work for the policyholder? [3:57] Are there any professionals who may work for both the insurance company and the policyholder? [4:33] How can qualified outside professionals make a significant difference in the amount of a settlement and the speed at which it's reached? [5:21] What types of experts and professionals will insureds possibly need to hire during the property insurance claim process? [5:57] Historically the cost of the experts to support and prepare a claim are the insured's responsibility, but now it seems the burden of cost seems to be shifting. Why is that? [6:54] How does current coverage to reimburse policyholders for loss preparation costs vary among insurance carriers? [7:20] What steps should policyholders take when considering this type of coverage? [8:11] What other types of questions should policyholders consider when they are researching loss adjustment expense coverage? [9:43] Why is it important that a policyholder identify the carrier's precise intent for loss preparation coverage before a loss occurs? [10:30] What should policyholders do if they haven't found an acceptable endorsement that will respond to their business's unique needs? [11:14] Why do so many organizations fail to make sure their insurance program includes reimbursement coverage? [13:07] Examples of businesses who want people to maximize their financial settlement after a disaster because they didn't have this type of coverage or they didn't hire the right experts. [15:00] If an agent or broker offers to handle a claim is that an unauthorized practice of public adjusting or are they legally allowed to do it? [16:42] Other important points about making a case for experts. [18:12] Why is coverage for public adjusters rarely seen?   Panelists: ● C. Todd Thomas, Executive Director at Adjusters International and Member of the Society of Risk Management Consultants ● Jim Beneke, SPPA, President at The Beneke Co./Adjusters International ● John Marini, Senior Advisor for Business Development & Government Affairs at Adjusters International   Moderator: ● Marjorie Musick   Mentioned in This Episode: Adjusters International

    18 min

  4. 06/11/2018

    NAPIA's Legislative Efforts — A Win For Policyholders & Public Adjusters Alike

    Today, we will be discussing the legislative efforts of the National Association of Public Insurance Adjusters (NAPIA). Founded in 1951, NAPIA advocates for public adjuster education and a higher standard of professional conduct and ethics. NAPIA members are committed to working in the best interest of their clients and to conducting business with integrity. For more than 66 years NAPIA members throughout the U.S. have joined together for the purpose of education, certification, marketing opportunities, legal and legislative representation, scholarship and research and the promotion of the public adjusting profession.   Key Takeaways:   [1:54] How involved is NAPIA in the insurance legislation landscape? [6:44] The roles of Brian Goodman and Randy Goodman within NAPIA. [8:05] What are the biggest legislative challenges NAPIA and its members are facing? [13:05] Who punishes those who violate Unauthorized Practice of Public Adjusting (UPPA) laws? [18:37] How do these challenges affect consumers and insurance professionals? [19:42] What are NAPIA's current legislative priorities? [22:26] How does NAPIA view hourly or set fees and what are they doing to address the situation in Louisiana? [24:50] In the five states with no licensing, are public adjusters permitted to work? [26:38] In the past 12-years, what are NAPIA's biggest legislative wins and how do those wins benefit policyholders and public adjusters? [27:41] What are some of NAPIA's legislative disappointments? [29:00] What is on the horizon for property and casualty insurance legislation? [30:59] How can people assist NAPIA's in achieving its legislative goals? [32:28] NAPIA protects the consuming public. Panelists: Brian Goodman, Principal at Kramon & Graham PA Randy Goodman, Executive Vice President & Principal at Goodman-Gable-Gould/Adjusters International C. Todd Thomas, Executive Director at Adjusters International and Member of the Society of Risk Management Consultants   Moderator: Marjorie Musick, Social Media Specialist at Adjusters International/Basloe, Levin & Cuccaro, and Jansen/Adjusters International   Mentioned in This Episode: Adjusters International National Association of Public Insurance Adjusters  (NAPIA)

    33 min

  5. 05/08/2018

    Hurricanes Harvey, Irma, and Maria — Helping Policyholders Recover From a Disastrous Hurricane Season

    Today, we will be discussing the highly-active 2017 hurricane season and its impact on the people, areas, and economy as well as how home and business owners can properly insure themselves for this exposure in coming years. Our panel of experts has first-hand experience in the public adjusting industry and will guide us through this discussion.   Key Takeaways: [1:21] Why were home and business owners were caught off guard by Hurricane Harvey? [3:09] For future hurricanes, how can home and business owners prepare themselves? [3:59] What was unique about Hurricane Harvey? [4:39] What was the effect on Louisiana, Texas, and elsewhere? [8:57] Tips for property owners still dealing with the aftermath of Hurricane Harvey. [10:09] What is FEMA's role in the clean-up efforts? [12:09] How long can residents expect to be affected after a hurricane? [13:59] What types of property insurance coverages are home and business owners lacking with regards to Hurricane Irma claims? [15:38] Is FEMA help available? And if so, what do these types of claims entail for a home or business owner? [18:45] Aside from insurance policies and FEMA grants, what other types of funding or help are available? [19:48] What was the overall impact of Hurricane Irma on the Caribbean and Florida? [21:40] Tips specific to those dealing with the aftermath of Hurricane Irma. [25:16] Hurricane Irma made landfall two weeks before Hurricane Maria; were residents more aware, cautious, and alert when it came to dealing with Maria? [28:51] What was the impact of Hurricane Maria on Puerto Rico? [30:57] Who can property owners go to for property damage claims related to Hurricane Maria? [32:37] For those living in the Caribbean, are there additional coverages home and business owners should buy to protect them from future hurricanes?   Panelists: ● Jim Beneke — President — The Beneke Co./Adjusters International ● John Marini — President & CEO — Adjusters International ● Luis Esteves — Principal & Executive General Adjuster — Jansen/Adjusters     International ● Todd Thomas — Executive Director of Consulting Services and member of the Society of Risk Management Consultants — Adjusters International   Moderator: ● Marjorie Musick — Social Media Specialist — Adjusters International/Basloe, Levin & Cuccaro and Jansen/Adjusters International   Mentioned in This Episode: Adjusters International National Association of Public Insurance Adjusters  (NAPIA)

    33 min

  6. 03/30/2018

    Insurance Coverage for Collapse: How Has It Changed and Why?

    Today we will be discussing the insurance coverage for collapse. Throughout the years, insurance companies have updated the policy language as to what constitutes a collapse loss and continue to do so today. How can you be sure you are covered in case of collapse and furthermore, how can you help to mitigate a collapse loss to your property? Find out on this episode as we discuss collapse with our experts.   Key Takeaways: [1:40] What are common reasons or circumstances that cause a property to collapse? [2:31] What constitutes a collapse loss according to the insurance company? [4:54] If a home or business were to collapse due to a natural disaster would it be covered under a standard property insurance policy? [7:23] How can policyholders protect themselves when it comes to exterior buildings on their property? [10:02] What happens if two variables cause the collapse of a property? How would the policyholder's claim be handled? [16:11] How can home and business owners protect their property from collapse? [18:05] What happens when policy language is ambiguous when pertaining to a collapse? [21:14] What types of professionals are available to assist policyholders who are suffering from a collapse insurance claim? [24:55] Additional considerations regarding collapse claims.   Panelists: ● Matthew Blumkin, Principal at The Greenspan Co./Adjusters International ● Todd Thomas – Executive Director of Consulting Services and member of the Society of Risk Management Consultants - Adjusters International Moderator: ● Brianna Moyer, Digital Marketing Manager – Adjusters International   Mentioned in This Episode: Adjusters International Adjusting Today — Insurance

    29 min

  7. 03/01/2018

    Sometimes It's What The Policy Doesn't Say That Counts

    Today we will be discussing the ins and outs of insurance policies, and the importance of understanding what your policy does say and cover, as well as what it does not. In this episode, our panelists will discuss how those with an insurable interest in a property can protect themselves from issues such as inadequate reimbursement should a disaster occur.   Key Takeaways: [:27] After a disaster occurs such as a fire, flood, or severe windstorm and damages a property, what are some of the more common mistakes an insured or policyholder makes that results in the inability to provide proof of loss to the insurance company? [3:20] Is the 'inability to provide proof of loss' a common theme in property damage losses? [5:12] What are the ways in which a policyholder can prevent such roadblocks? [8:00] What does the concept of 'insurable interest' mean in relation to a property insurance policy? [9:38] If a person does not have to be the property's owner in order to have insurable interest, what are some examples of parties that would have an insurable interest in a property? [11:49] A party who has an insurable interest in a property may not be involved in the day-to-day operations, or even be on-site. What types of conflicts can this result in when it comes to insurance policy definitions, interpretations, changes, and the like? [13:28] What can these other parties do to protect their stake in the property, aka their 'insurable interest'? [17:36] Speaking of 'Broadening the Named Insured,' what are some challenges the agent, broker, or policyholder may face, when undertaking this task? [21:11] What are some challenges the agent, broker, or policyholder may expect when 'Broadening the Property Definition,' if they have to go that route? [22:09] Suffice it to say that these additions to a property insurance policy can play an important role in helping one avoid a large predicament such as inadequate reimbursement; what is the overall benefit of having them in place?   Panelists: ● James R. Mahurin – Risk Management Consultant and member of the Society of Risk Management Consultants ● Tim Larsen – Executive Adjuster – The Greenspan Co./Adjusters International ● Todd Thomas – Executive Director of Consulting Services and member of the Society of Risk Management Consultants – Adjusters International   Moderator: ● Brianna Moyer (Adjustersinternational.com/bios/executive-professional/), Digital Marketing Manager – Adjusters International   Mentioned in This Episode: Adjusters International Adjusting Today — Sometimes It's What the Policy Doesn't Say That Counts

    27 min

  8. 08/15/2017

    When Disasters Become Real: Our Public Adjusters' Recollection of Memorable Cases

    Today we will be discussing the ins and outs of various interesting insurance claims that our expert panelists have handled and adjusted successfully. These memorable cases range from a fire at a Midwestern school to two New York City buildings that were damaged during Hurricane Sandy. Our panel of experts has extensive experience in the public adjusting industry, and will guide us through our discussion.     [1:40] Electrical Fire in a Special Needs School — Chuck Sorrell Chuck describes a fire at a special needs school in Minnesota. The ways Chuck's company differed from the carrier's consultant. Settlement details Client feedback   [13:56] Fire in a Fast Food Restaurant The client had the proper coverage. This claim was unique because the insured was put in a position to manage sub-contractors. The challenges included a business hierarchy and a million dollar discrepancy. Lessons learned from this claim Other unique aspects to this claim and ADA ordinance issues   [25:10] Major Loss from Hurricane Sandy — Keith Hayman Water surges from Hurricane Sandy destroyed the mechanical system. The details of how Keith's team was able to assist the client Green tag alerts the building department that the building is able to be inhabited. This situation was unique because there was a sub limit cap on one building only. Adjusters International helped the client to retain their monthly income and to enhance the integrity of their asset. Challenges for this claim included difficulty with elevator banks and dealing with multiple decision makers.   [35:21] Triple Net Property Lease Claim — Jim Mahurin The client had a substantial Leasehold Interest Policy The problems incurred during the handling of the claim. Why the agent who sold the policy is to be commended. The insured was paid and had no complaints about the settlement. How knowing your exposures can help you reduce risk with the correct insurance coverage. What is a triple-net value lease?     Panelists: ● Chuck Sorrell — Owner — Xpert Consulting Services ● James R. Mahurin — Risk Management Consultant and member of the Society of Risk Management Consultants ● Keith Hayman — Senior Vice President — Goodman-Gable-Gould/Adjusters International ● Todd Thomas — Executive Director of Consulting Services and member of the Society of Risk Management Consultants — Adjusters International  Moderator: ● Marjorie Zeoli Musick, Social Media Specialist – Jansen/Adjusters International, Globe Midwest/Adjusters International, and Adjusters International/Basloe, Levin & Cuccaro    Mentioned in This Episode: Adjusters International Adjusting Today

    48 min
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About

Adjusters International's Property Insurance Roundtable features property insurance experts discussing current issues affecting first party claims. Each podcast focuses on a critical topic that is currently trending within the property insurance industry and includes real life examples intended to improve disaster preparedness.

Information

  • Creator
    Adjusters International
  • Years Active
    2015 - 2019
  • Episodes
    25
  • Rating
    Clean
  • Copyright
    © Adjusters International
  • Show Website
    Property Insurance Roundtable