As a follow up to the Insurance Protection Gaps webinar mentioned in yesterday‘s post, Water Loss From Toilet Overflow Is Covered Despite State Farm Denial, Professor James Hilliard of Temple University’s Department of Risk, Insurance, and Healthcare Management provided a basic outline and his presentation is somewhat similar to Professor Jay Feinman’s much more detailed work on the matter.
Continue Reading Fighting Insurance Coverage Protection Gaps Is Sound Public Policy

The Mid-Atlantic Association of Public Insurance Adjusters (MAPIA) held a meeting this past week with about thirty-five public adjusters in attendance. President Paul Yemm, yours truly, Holly Soffer, and Tony DiUlio are pictured above. Soffer and Diulio gave a wonderful insurance gaps presentation that was highlighted Tony DiUlio’s discussion of a water loss that resulted in a bad faith verdict against State Farm.
Continue Reading Water Loss From Toilet Overflow Is Covered Despite State Farm Denial

On October 2, 2019, the U.S. District Court for the Middle District of Florida ruled that a dispute between an insurance company and its policyholder should proceed to appraisal despite insurance company’s allegations that it had discovered what it called evidence of fraud.
Continue Reading An Insurer’s Potential Fraud Claim Against Insured Was “No Reason to Stop or Stay Appraisal,” Court Rules

Chip Merlin and FAPIA Executive Director Nancy Dominguez

The largest public adjuster conferences are with the Florida Association of Public Insurance Adjusters (FAPIA). Nancy Dominguez is the Executive Director pictured with me at this past weekend’s conference. Two major themes resonated at the conference—insurance protection gaps and forgotten catastrophe-victim policyholders.
Continue Reading Insurance Protection Gaps and Forgotten Policyholders are Major Topics at FAPIA

This Friday, October 11 at 12:30 p.m. EST, Holly Soffer, who is the general counsel of the American Association of Public Insurance Adjusters (AAPIA), and I will co-host a free live webinar on the subject of coverage gaps and what can be done to stop this problem. Rutgers insurance law professor Jay Feinman, author of, Delay, Deny, Defend – Why Insurance Companies Don’t Pay Claims And What You Can Do About It, will have a guest video appearance on the topic.
Continue Reading Insurance Gaps Are Killing Policyholders, Your Business and Your Ability to Restore Damaged Property—Sign Up For This Friday’s Insurance Gaps Seminar

Rutgers Law Professor Jay Feinman has written an excellent paper regarding insurance protection gaps (of which insurance gaps are a subset) involving residential structures: The Protection Gap in Homeowners Insurance: An Introduction. I recently mentioned this emerging issue in, Coverage Gaps Plague Policyholders! Merlin Law Group and AAPIA Host Webinar Explaining What Is Being Done To Fight This Problem.
Continue Reading Insurance Coverage Gaps—An Increasing Insurance Crisis Which Needs To Be Addressed and Stopped

Holly Soffer

Holly Soffer is General Counsel to the American Association of Public Insurance Adjusters (AAPIA). Strangely enough, we met and started a dialogue about Insurance Coverage Gaps at a half-day leadership conference hosted by the National Association of Public Insurance Adjusters (NAPIA).
Continue Reading Coverage Gaps Plague Policyholders! Merlin Law Group and AAPIA Host Webinar Explaining What Is Being Done To Fight This Problem

Chip Merlin & Guy Cohen

Public adjuster Guy Cohen and I discussed various issues of property insurance and adjustment at a recent lunch. He raised a very serious topic of coverage gaps being created in the small print of property insurance policies which Florida insurance regulators are allowing to be sold. He thinks that these coverage gaps are the most serious issues facing insurance consumers. He is not alone.
Continue Reading The New Water Damage Limitation and Other Non-Traditional Coverage Gaps

Note: This guest post is by David Thompson, CPCU, AAI, API, CRIS, an instructor at the Florida Association of Insurance Agents for over 23 years. Prior to that he worked in a family-owned insurance agency for over ten years. He was a commissioned officer in the United States Army and the United States Coast Guard for eight years prior to beginning his insurance career. In his spare time, he smokes the world’s best BBQ.

I drive a red four-door car that has a sticker price of about $21,000. A good friend of mine also drives a red four-door car, but his car was over $26,000. Why did he pay more than I did? After all aren’t all red four door cars the same?

The answer to that question is obvious because different cars have different features. The same concept can be used with insurance policies. Not every policy is the same, and price alone should never be a reason to purchase an insurance policy. The homeowners policy on my Tallahassee home is $1,281 per year. I doubt any of my neighbors pay that much and I’m nearly 100 percent certain that no one within miles of my house has a policy with as many coverage enhancements as my policy does. I have (for fun) gone to some websites where you can put in your street address, answer four or five simple questions and pronto, you get a quote. I did that just today and the quote provided in under a minute listed 23 companies; 22 were lower than my current premium with the lowest being $572. By the way, only three questions were asked: zip code, year built, and coverage limit. But, what did that policy include? Was coverage as broad as what I currently have? I assure you that it was not, but too many consumers would look at $1,281 vs. $572 and go with the cheaper quote. A long time “insurance nerd” friend of mine who had over fifty years in the insurance industry when he passed away a few years ago often said, “The bitterness of no coverage is remembered long after the sweetness of low price is forgotten.”
Continue Reading Insurance Is Not a Commodity – It’s Not All About the Price

Professor Jay Feinman

On March 29, 2019, I had the distinct pleasure of joining a distinguished panel of practitioners, educators, and policy makers at The Protection Gap in Property Insurance program sponsored by Rutgers Insurance Law Professor Jay Feinman, Rutgers law School and The Rutgers Center for Risk and Responsibility.1
Continue Reading Pitfalls For Policyholders: Rutgers Protection Gap Seminar Zeros In On Things Your Insurer Won’t Tell You