RE: A Loss that should be settled ASAP
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RE: A Loss that should be settled ASAP - 7/31/2006 10:20:13 PM
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trader
Posts: 1200
Joined: 4/19/2004
Home base: Houston, TX
Status: offline
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Its simple dwelling are not eligible to purchase co -insurance.....
The RCC you pay an extra premium for is a warrant that you will comply with.
Forget ever thing else and curse the instructor who told you RCC is co-insurance. The correct word is very important to insurance carriers.
When a hysterical female says her house was flooded from the rain coming thou the roof. Do not ever use the word flood in your report it has a different meaning to the person reading the file. Flood to an adjuster always means a NFIP flood type, not windstorm claims with lots of water inside.
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RE: A Loss that should be settled ASAP - 7/31/2006 10:23:17 PM
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trader
Posts: 1200
Joined: 4/19/2004
Home base: Houston, TX
Status: offline
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Lee call me Tuesday about noon and give me the question.
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RE: A Loss that should be settled ASAP - 7/31/2006 10:55:30 PM
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trader
Posts: 1200
Joined: 4/19/2004
Home base: Houston, TX
Status: offline
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If two losses occur before the first is repaired the second hits. Is the question. Work it just like two hurricanes. Work up the whole loss and then TRY to sort out the first and the second, and subtract the smaller from the larger, then apply the Ded to each and you may find one or the other did not exceed with the Ded and then deal with that claim. Remember they are both separate claims. In real difficult claims SOME TIME with permission the carrier will allow you to work off the gross loss of the combined two and take two Ded. This is the easy way out. But what happens when the carriers change between losses. You know the answer do it the right way.
This brings up a good time to insert this point. I have probably been to several hundred meetings with a room full of adjusters. When the company man ask for questions, please keep score. Each question from the floor is how can I get out of doing this job right the first time. It takes so much time to do it right.Why cant we just square foot it? On and On and On. Now how did catastrophe adjusters get such a bad reputation with the insurance carriers. Little wonder, we are necessary evil only and they know it.!!!! Because, it is factual.
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RE: A Loss that should be settled ASAP - 8/3/2006 2:40:37 AM
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rickhans
Posts: 65
Joined: 5/8/2005
Home base: Dallas, Tx.
Status: offline
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As those who worked Florida in 2004 know, the state mandated that multiple claims (multiple hurricanes) be treated as one, therefore we did not have to try and determine which storm caused what damage. I assume that if policy changed in between hurricanes, the new policy covered all. All of the claims I had there was never a notation of a different insurance carrier prior to the claim being submitted and the state had already implemented their mandate. It probably averaged out over all of the carriers. The carriers only extra loss was the inability to take more than one deductible.
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