December 14, 2015

Your flood adjuster arrives with a few forms for you to fill out.  Typically, you will be asked some questions about when the water entered the building, how long it stayed and that sort of thing.  He/She will also ask to some questions to update your policy.  You may be asked to confirm your current mortgagee (lender) – this is important.  The claims check will be made out to you and your lender.  If it is made out to the wrong lender it will cause an unnecessary delay in receiving claim proceeds.

Cooperate with your adjuster.  In an event setting like...

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December 3, 2015

UP is hosting a Roadmap to Recovery workshop for Valley Fire survivors Thursday, December 3rd at 6pm at Middletown High School. This workshop will cover how to effectively ...

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December 1, 2015

Most homeowner’s property insurance policies contain “intentional loss” and “concealment and fraud” provisions that exclude or bar coverage if any person who qualifies as an “insured” (typically defined to include the named insured and residents of the named insured’s household who are his or her relatives) commits or conspires to commit an act intending to cause a loss (e.g., arson), intentionally conceals or misrepresents any material fact or circumstance, or engages in fraudulent conduct. But when a family member acts alone in setting an arson fire, should their innocent relatives pay...

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November 23, 2015

When you buy insurance, you pay for coverage and good service if and when you file a claim.  Good claim service includes estimating the extent and value of your claim fairly and promptly. Insurance company claim adjusters often bring in outside experts to inspect and give their opinions. There's been much written by our organization and others about problems that arise when adjusters bring in outside experts who are too cozy with them and inclined to underestimate damage or find an excluded cause of loss.  This can happen where the expert is motivated to please...

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November 21, 2015

The business of insurance is primarily regulated by individual states with a minimal amount of oversight by the Federal Government.  State regulators coordinate with each other through an organization called The National Association of Insurance Commissioners.  Three times a year, the NAIC hosts a conference that lasts 4 days.  Each day is jam packed with meetings starting at 7:30 am on everything from regulating insurers' finances to marketplace oversight to health care reform implementation and a thousand other issues. In closed door and open meetings, regulators and their...

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