So, how do you allow a business not to fail after it suffers a loss?

Leonard Theran, SPPAOne of the key elements is extra expense insurance, which enables you to spend money to do whatever you can to help your business operate. Unlike Business Income Insurance (BII), which can take months to calculate and negotiate a settlement, the insurance company can often reimburse the extra expenses as they are incurred. This can be a huge advantage to the cash flow of a business that has just suffered a catastrophic loss....


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Recently, I had the honor of presenting a talk to a group of insurance professionals from around the country at the 2012 First Party Claims Conference in Warwick, Rhode Island. The topic was “Business Income and Extra Expense for Small Business vs. Manufacturing or Retail.” My co-presenter was Glen Ricciardelli, a partner at Matson, Driscoll & Damico, LLP, a leading forensic accounting firm working on behalf of the insurance industry. Our different backgrounds enabled us to provide varied per...


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THIS ARTICLE APPEARED IN THE WALL STREET JOURNAL WEEKEND INVESTOR
Updated December 7, 2012

The Cleanup From Superstorm Sandy Has Been an Exercise in Frustration for Homeowners. Here's How to Maximize Insurance Payouts—and Reduce the Hassle of Filing a Claim

Five weeks after superstorm Sandy pounded the East Coast, frustrations are rising as homeowners struggle to determine which damages will and won't be covered by insurance.

Some homeowners are surprised to discover they don't have some of the...


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You have just suffered an emotionally upsetting loss to your home or business. You now face the task of preparing and submitting a complicated claim to your insurance company—a task required by your policy.

For most, the preparation of a property damage insurance claim is unfamiliar and rough terrain: depreciation, exclusions, replacement cost, actual cash value... At times, the list seems endless, but it is your responsibility to prepare and prove your claim to the insurance company.
 
Cambridge, Massachusetts Condo Fire BeforeIn order...


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With the clean-up from Hurricane Sandy still ongoing in New Jersey, New York and several other states, these coastal areas are bracing for yet another potential disaster: a winter Nor’easter The Weather Channel has named “Athena.”

Forecasters are warning of up to 6 inches of snow in some regions with winds gusting in excess of 65 mph. Even more threatening is the expected storm surge of 3 feet along the New Jersey and New York coast—an area that is especially vulnerable.

hurricane, sandy, storm, damage, bay, Ventnor, NJ, floodAs Public Adjusters,...


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Simply put, when a client experiences a loss, Professional Loss Adjusters, Inc. (PLA) is retained to assist in preparing and filing a detailed insurance claim. To accomplish this, one of the most critical parts of my job is to perform a thorough and accurate on-site analysis of building and property damage. Time is of the essence when I am working to secure a settlement for my clients. Their home or business needs to be rebuilt as soon as possible, so they can return to their normal activities....


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electric panel danger code buildingMany people believe that when damage occurs to their home, they can make a claim against their insurance policy and all will be well. This is not necessarily so.

Here are two examples of where two insurance companies had initially denied coverage to the homeowners for part of their claims. The areas in both of the homes in question were undamaged by the cause of the loss. However, each town’s building inspectors required this additional code work as part of the overall repairs. The additional...


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perform an annual review of your insurance policy

I recently read an article posted by Angie’s List, the membership-based website featuring thousands of unbiased reports and reviews about service companies throughout the United States. Members regularly share their experiences with each other so that others can choose the service company that’s right for their needs. Angie’s List also posts information and tips to help homeowner’s save money.

This particular article asked: “Does your homeowner’s insurance policy offer enough coverage to replace your...


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Condo Fire resized 600

It is painful for us when we represent a condo association and observe that so many unit owners have limited or no insurance on their units. A master policy purchased by your condo association covers the building, the common areas and the unit owners’ collective liability. However, the master policy does not cover everything of importance, such as your personal property and the cost to live elsewhere while repairs are being made.

One example we experienced recently was that of a six-unit co...


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This information was excerpted from Report No. 10-06 of the Office of Program Policy Analysis & Government Accountability, an office of the Florida Legislature.

For decades, we’ve been extolling the virtues and illustrating the effectiveness of hiring a public adjuster, primarily because we see the difference it makes in the lives of our clients every day. So, we are happy to report that, in January 2010, the state of Florida released the results of their study that compared insurance claims...


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