Under ORS §742.061, insurance companies are required to pay their insured’s attorney’s fees in Oregon if, in the insured’s lawsuit brought against the insurer, the insured obtains a “recovery” that exceeds the amount of any tender made by the insurance …
Elephants are adorable plant-eating creatures beloved by most all. Seen as intelligent and family-centric, the admiration for elephants, and their perceived abuse documented by animal rights activists led to the recent closure of the Ringling Bros. and Barnum & Bailey …
“Member of the Family” sentiment increases perception of value Enservio, Inc., a provider of software and services across the entire value chain of contents claims processing, announced that firearms and ammunition are commonly overvalued in insurance claims from more than …
When and whether a vehicle involved in a collision is considered to be “totaled” for first-party insurance purposes is an issue of great angst and confusion for most consumers. We hear horror stories about older, functioning automobiles being “totaled” simply …
Mass.-based Enservio, Inc., a national provider of software and services to property insurers, announced a new Recoverable Depreciation (“RD”) service to help expedite what has traditionally been a tedious and inconvenient process for claims professionals and adjusters. Based on demand …
The question of whether a coinsurance penalty in a commercial property policy was based upon ACV or RCV was recently addressed by the United States Eighth Circuit Court of Appeals in Buddy Bean Lumber Co. v. Axis Surplus Ins. Co., …
Accurate Roof Age Is Hard, But So What? This paper sets out to quantify how much inaccurate roof age costs carriers—after all, if the cost of inaccurate roof age is low, then the value of accurate roof age is also …
Avoid these three traps to maximize the success of your roof risk strategy. From carriers to agents, inspectors to vendors, BuildFax conducted interviews with numerous insurance professionals to identify the number one trend in the roof risk problem ─ ACV. …
In part 1, we described the current trends in solving the roof risk problem. Part 2, covered today, lists the trends ahead facing insurance and reinsurance carriers alike in their journey to tackle the roof risk problem. BuildFax interviewed carriers …
Everyone is talking about the roof risk problem. It is the hot topic among both insurance and reinsurance carriers, as well as vendors. BuildFax conducted interviews with industry experts ─ from the C-suite to actuaries, underwriters to adjusters, to inspectors …