| Author |
Message |
BRose
| | Posted on Tuesday, November 30, 1999 - 1:06 pm: | |
John,
I know of many real flood adjusters who just won't do the files anymore because of the fee schedule v. multiple face to face contacts with the insureds and file requirements.
Some of the companies want us to perform additional underwriting activities ie reformations all inclusive. I guess you can walk away from the storm. |
R.D. Hood
| | Posted on Friday, November 26, 1999 - 10:03 am: | |
Sure John,
Here is a favorite of my choosing. The APST allows for a 10% reduction to primary coverage when the insured opts to have it applied to another structure located on the property. The policy reads that "a garage or carport" when considered a detached building can qualify for building coverage.
Why are not any appurtanant structures just that,APST. You have contents coverage,(if purchased), for your possessions, located in any walled and roofed shed, shack, storage building, barn etc.(EVEN IF PARTIALLY WALLED AND THE CONTESTS SECURED)
Their inturpurtation of the structure having to be a garage,(ability to house a vechile) or a carport, to qualify as an APST , IMHO, is an example of the old "big words giveth and small works taketh away".
Of course, the tennants of the policy as to the structure, 1)containing living space, 2)being used for a business 3) held for income, 4)Used as a Boathouse, are certainly in line with the "standard ISO policies, and that is understandable.
BUT, where is it written in any dictionary, "EXCEPT THE FED", that any building at an insured location must be a garage??? that BOGGLES MY MIND...........
And then there is the ever changing contents issues, like the oil tanks and gas cylinders AND the contents thereof being covered. (only they failed to say that you must have purchesed contents coverage to insure the oil in the tanks), those kind of things can give pause to any adjuster. NOT TO MENTION the subjective translations and the whim of the NFIP field service offices locations, which vary from storm to storm and person to person.
While the NFIP appears to be the single policy that was indended to be the same no matter where you are, it is not without need for some serious afterthought and full comprehensive, understandable translation that will say the same for a year or two, at least.
MAny of us enjoy flood work, and few are truly qualified. This last event brought many "floood adjusters" to the fray, who were NFIP quailfied and yet had litte of no experience and had to be "hand held throught the entire process".
NFIP would be well advised to make attendance at one of the annual meeting more that a "sit thru" session. Im thinking of a "National Flood Instructional Program" with difficult testing and stringent policy knowledge a part of being "Certified"
Comments????????? |
Tom Weems
| | Posted on Tuesday, November 23, 1999 - 9:54 am: | |
Where is the adjuster manual we have been promised for so many years? I realize that NFIP would then have to stick by policy interpretations instead of changing the rules on every storm, but that is exactly the point. How can you adjust claims and be a professional in this business if the client is continually changing the rules? I enjoy working flood, but sometimes they give me a headache.... |
john postava
| | Posted on Tuesday, November 23, 1999 - 8:28 am: | |
The flood policy is a unique animal among insurance contracts - any flood adjuster knows that most of what is written in the policy has always been subject to NFIP/FIA/WYO interpetation. And sometimes that interpetation changes from storm to storm. We are currently working with government types to attempt to clear up some of the confusion that comes with reading the flood contract (all policy types). We would like to ask the CADO flood adjustment pros what they dislike most about the way the current flood policy is worded. We would also like any ideas as to how to make the policy more understandable to the flood adjuster and/or flood loss insured. Got any pet peeves about any of the NFIP policies or would like to see a part of it changed? Now is the time to respond. All reasonable responses WILL get to the right people at the FIA. |
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