International Risk Management Institute

Merlin Law Group attorneys have an advantage over many other law firms and lawyers because we invest in an extensive insurance law reference library and with an attorney, Ruck DeMinico, who holds a library science degree and oversees this reference resource. During his presentation at NAPIA‘s mid-year meeting, insurance author and coverage expert Bill Wilson claimed that he finds the best insurance coverage discussion in IRMI.
Continue Reading Bill Wilson Says IRMI Has the Best Insurance Coverage Reference Discussions

Chip Merlin, Ashley Harris and I settled an Equipment Breakdown Coverage (aka Mechanical Breakdown Coverage) lawsuit in New Jersey yesterday. Chip Merlin took this picture of Ashley and me after the settlement. While the settlement is confidential, there are a number of lessons to be learned and reasons why this coverage is so important to small business manufacturers.
Continue Reading Small Business Manufacturers Should Purchase Equipment Breakdown Coverage

As noted before in To Consider the Economy, or Not To? ‘That is the Question’ — Understanding Business Interruption Claims, Part 9 and What’s Good for the Goose is Good for the Gander – Post-Loss Market Conduct Ignored in Louisiana – Understanding Business Interruption Claims, Part 36, there are two diverging views on whether post-loss market conduct should be considered to determine the value of a business interruption loss.

Continue Reading How To Consider the Market Conditions After A Loss? – Understanding Business Interruption claims

Gaps in coverage and uninsured losses occur for a number of reasons. Most policyholders are not in the insurance business. They have a very limited understanding of the product they are buying and how risks they face may be insured. In Property Insurance Resolutions for 2010, which follows Concerns and Resolutions for Property Risk Management in 2009, published in the IRMI.comWilliam Austin makes the following observations:

Continue Reading Insurance Agents, Brokers and Risk Managers Have to Spend Enough Time Studying the Specifics of Coverage to Prevent Uninsured Losses

Michelle Claverol has been writing a weekly post every Sunday regarding business interruption and extra expense issues. I can tell that weekend posts are not read as often as those published during the workweek. I encourage those involved with commercial claims to go back and review her discussions of this important commercial coverage. She went home to visit with her family this weekend, and her leave provides me an opportunity to address a business income question that is asked of me on a fairly frequent basis:

What happens in the valuation of a business income claim when the business closes or is sold after the loss?


Continue Reading The Period of Restoration Does Not End When the Business Is Sold or Operations Cease