“Extra” is the E that largely stands for the concept of expediting costs which are incurred to reduce the ultimate loss. “These are out-of-the-ordinary expenses.”1 They are differentiated from the normal expenses to repair and replace damaged property covered under the property insurance policy. These expediting costs usually fall into three categories:

  1. Those that speed up the return to normal operations;
  2. Those that continue operations during the period of interruption but at a higher than normal cost;
  3. Those incurred, after operations are resumed, to refill inventory.

Continue Reading What Is the “Extra” E and Why It May Be The Most Important “E” of “The Six E’s” of Business Interruption Insurance?

Colorado protects its policyholders as well as any other jurisdiction in the United States.1 Most policyholder advocates are familiar with Colorado’s statutory bad faith claims that give policyholders a fighting chance against insurance carrier’s malfeasance. Whether it is incompetence or intentional, claim results are often unreasonable and policyholders are harmed with few remedies to make them whole. Continue Reading Colorado Insurance Companies Do Not Have a “Get Out of Jail Free Card” For Delayed and Underpayments Following Appraisal

In jurisdictions that don’t have attorney fee shifting statutes, insured are left with very few tools to level the playing field against the behemoth insurance companies. Depending on your jurisdiction, prejudgment interest could be used to help level that playing field. Continue Reading Prejudgment Interest, What Is It and How Does It Help Me?

On July 1, 2020, Wisconsin Act 129 became effective. The Act, which governs public adjusters in Wisconsin, now requires all non-residents to register with the commissioner prior to engaging in adjusting services in Wisconsin. Resident public adjusters may register but are not required to do so. Continue Reading Attention All Wisconsin Public Adjusters

The “Culture of Cancel” is not with the Georgia Association of Public Insurance Adjusters (GAPIA.) Their Board is hardworking and progressive. They have set an online conference for Tuesday, July 14, 2020. So, you can attend from anywhere and still be there. Continue Reading A Sign of The Times—The Georgia Association of Public Insurance Adjusters Holds Its Conference Online: Register By This Sunday July 12

Occasionally, an attorney representing an insured will run into a Motion to Compel Appraisal filed by the carrier’s attorney. Upon receipt of the motion, a few considerations must be made with the most important being:

  1. Is the demand for appraisal timely? and
  2. Is appraisal proper considering the “amount of loss”? Continue Reading Amount of Loss: Appraisal Considerations in New Jersey

The first two E’s of business interruption insurance claim theory were discussed in, The First Two Elements of The Six E’s of Business Interruption Coverage—Extent and Experience. Today, we are going to discuss the elements which are Excluded and Effort. I know I am skipping “Extra” but Extra deserves extra discussion. Continue Reading The Excluded and Effort Elements of Business Interruption Insurance Claims Theory

In a recent case,1 a federal appeals court ruled that the insureds’ rental of their house to a good friend for two-and-a-half years constituted a “business purpose” for which coverage for a loss was properly denied by the insurer under the relevant homeowners insurance policy. Continue Reading When Is The Rental Of My House A Business Use So As To Preclude Coverage For Losses?

Declaration of Independence signer Benjamin Franklin helped form The Philadelphia Contributionship For The Insurance of Houses From Loss By Fire in 1752. It is America’s longest tenured property insurer. It has withstood the test of time, has a rich history and even a museum you can visit. Continue Reading Historical Thoughts About Property Insurance Over Independence Day Weekend