The Marina Del Rey Hotel is a hidden gem in Southern California. It is nestled among thousands of sailboats and is a perfect setting for a conference. The California Association of Public Insurance Adjusters (CAPIA) will hold its annual convention there next Thursday.
Sandy Watts of United Policyholders and I will speak at the convention. Our presentation is Why insurance gaps are the most dangerous problem for policyholders and public adjusters and what public adjusters can do about it . Here is an overview of the topics we will discuss during the presentation:
1. What is the definition of an "insurance gap" aka Protection Gaps
2. What are examples of when these appear in the policy:
A. Deductibles, retentions, sublimit and coinsurance penalties
B. Requirements for mortgages and lenders are not met
C. Underestimation and post-disaster demand inflation
3. What are the new trends for cover gaps found in insurance?
B. Water damage
D. New definitions for ACV
E. New timelines for RCV payment
F. Smoke and embers
G. Marbling and cosmetic damage for hail requirements
H. No payments for matching
I. Reduced coverage for older buildings and parts of buildings
J. Preferred Entrepreneur Requirements OR Face Boundaries
4. The knowledge gap and educating consumers about policy language and claims issues
5. What can public adjusters do?
A. Self-education of the new policy forms and exchange of information
B. Examples from policyholders on impact
C. Share experiences with UP and regulators
D. Collection / sharing of policies and forms
6. Voters' votes
7. What will CAPIA do?
A. Public State Regulatory Authorities
B. Public State Elected Officials
C. NAIC State Staff
D. UP — Restoring The Insurance Safetynet Coalition (RISC)
I have written and talked about this topic before. In Cover hatches torment policyholders! Merlin Law Group and AAPIA Host Webinar Explaining What To Do To Fight This Problem I noted:
Insurance recovery contractors and policyholders need coverage to rebuild structures after losses occur. Public adjusters have nothing to adjust if there is a large coverage gap. We need to educate and then promote laws and regulations that will solve this significant problem. Merlin Law Group is dedicated to this worthy fight.
At the RMAPIA conference last week, public regulators asked the Colorado Division of Insurance why there was no standard minimum insurance for all risks for the same reason there was a standard fire insurance policy. This method of stopping insurance companies from printing coverage to gain advantages over competitors is a method I supported in Fighting Insurance Coverage Protection Gaps Is Sound Public Policy :
When public policy makers have such in the academy Acknowledge that there is a problem, this is usually a good first step to the next question ̵1; how do we go about solving the problem? For the same reason that insurance departments mandate minimum requirements that exist in the standard fire insurance policy, which still exists in many states, we should require minimum requirements and guarantees for insurance for the all-risk product.
School and Rutgers Center for Risk and Responsibility an excellent discussion on Essential Protections for Policyholders . to do it. Here is the link: https://www.capiainc.com/ev_calendar_day.asp?date=11/11/2021&eventid=1
Thanks for the day
  I surf ; I skateboard. I'm from Southern California. I never thought I would become an actor. And to be honest with you, I never really thought of myself as one.