A fairly new day. I shot a hail of asphalt shingles, attended a “big loss” panel, and signed a bunch Pay! and Mavericks and Merlins books while speaking to over a hundred attendees on various property insurance issues.
The hailstone shooting was fun and informative. Insurance scholar Mathew Mulholland and structural engineer Robert Wright gave a story about “terminal velocity” of hail at different heights and other esoteric scientific information. I was just worried that I wouldn’t miss and shoot someone. As you can see from the video, this was a can’t miss deal as the shotgun and projectile were in a tube.
The Great Loss panel moderated by Scott Friedson was something I enjoyed because I learned a lot from my panelists. Panel member Jack Hanks suggested that public adjusters need a great deal of sophistication to handle large losses. Hanks suggested that the requirements to obtain a public accommodation license need to be increased and much more difficult to obtain. I agree with.
Gregg Kelly and Jon Pruit of Addison Riley are highly experienced experts in construction. When asked if they could change one thing about the current claims environment, they agreed that it has to happen that both sides have to stop the gamesmanship of the claims experts. They warned the audience that if opinions are not supported, such “bullshit” does not help the insurer or the policyholder. I agree with.
Tiffany Snow of CMR spoke about the need for contractors to plan well in advance of the disaster if they are going to accept major loss cleanup and repair jobs. She pointed out that a contractor needs reliable subcontractors in many different industries, material suppliers and a team to support large loss mobilization with agreements and coordination plans established months before a storm. The prior planning should result in promoting an immediate response with detailed documentation and communication of the work performed. I agree with.
When asked what I wanted or could accomplish by relinquishing a magic wand, I suggested that Florida needs an elected insurance commissioner. Many of the contractors and public adjusters in the audience are fed up with what they perceive as systemic illegal insurance company claims behavior, as revealed by Washington Post but ignored by current insurance regulators.
I have signed many books today. I asked everyone how they were doing and if they had any questions about handling insurance claims, which I tried to answer to the best of my ability.
One thing that resonated with me was that no one had anything negative to say about the handling of AMICA or Chubb housing. My blog posts tend to be very critical of insurance companies’ claims handling. However, for those in home loan claims handling involving these two companies and the real estate adjusters who work for these companies, you do a much better job of handling claims in good faith than other companies. Cheers to you!
I think it is important to work with good people because then the work environment is good. If there is a sense of respect and faith among the people you work with, that is when good work is done.
— Ranbir Kapoor