Resources

I worked for a company that gathered every scrap of information and compiled it into a Standard Operating Procedure (SOP). When I left, I was unable to take it with me, but I miss that ready source of information. 

I hope to recreate this resource for adjusters even if their companies have something similar. 

If you want to see something added, contact us. We'll take a look. 

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Property Deadlines

Statute of Limitations

This is a list of first-party property statute of limitations. Adjusters should be aware of their state’s particular statute of limitation and if the insurer should notify an insured of the upcoming deadline to file suit.

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Liability Deadlines

Statute of Limitations

This is a list of third-party property statute of limitations. Adjusters should be aware of their state’s particular statute of limitation and if the insurer should notify a claimant of the upcoming deadline to file suit. 

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Made Whole States

Subrogation

The subrogation doctrine of making the insured whole prior to taking any reimbursement for the carrier is common throughout the states, although the definition may change depending on the state.

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Direct Action States

Liability Litigation

In Direct Action States, the legislatures created statutes which allows the third-party claimant to directly sue the insurer. This is a list of the states which allow direct action against an insurer.

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Reservation of Rights

Coverage Issues

A reservation of rights is a notification to the insured about potential coverage issues and prevents waiver of the insurer’s rights to deny coverage under the policy at a later date.   date.

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Fraud

Red Flags

Fraud is a deception intended to result in financial or personal gain. It occurs most often when an individual or entity makes a false or exaggerated claim. This is a list of various red flags for fraud.

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Depreciation of Labor

Actual Cash Value

Depreciation is a hotly debated topic in the insurance world. Everyone knows materials are depreciable. The question comes into play if intangible things such as labor can be depreciated.

Independent Counsel

Liability Litigation

A reservation of rights letter in a liability claim may present a conflict of interest between the insured and insurer. This conflict may necessitate independent counsel for the insured, paid by the carrier. 

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ACV Determination

Actual Cash Value

Actual Cash Value is not defined in most policies, but adjusters are taught it means Replacement Cost less Depreciation equals Actual Cash Value (ACV). Courts have begun to expand on this definition.

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Dog Bite Statutes

Liability Information

Dog is a man's best friend, until he bites someone or livestock. The owner can be guilty of a felony or a misdemeanor in some states. Secured enclosures and warning signs are required in others.

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Bedbug Statutes

Liability Information

Not every state has regulations on bedbugs, but landlords are required to have habitable units for humans.  Premises owners and tenants may both have duties and liabilities in these types of losses.