| Author |
Message |
Todd Summers
Registered User
Username: T4summ
Post Number: 8
Registered: 12-2001
| | Posted on Sunday, June 02, 2002 - 1:35 pm: | |
Jim, I believe that one reason there has not been much response to this thread is the high potential for litigation on each one of these claims. I am sure that there are many mold adjusters that are splitting at the seams to spill their guts here about a whole plethora of issues they are experiencing, however, I, for one, would not get into the specifics of any one claim here on the internet.
However I do opine that the number one reason for the "Mold rush" in Texas is the DOI mandated language that exists in the HOB policy. The way that it is written does not literally mean what it was intended to say. For example, it does not define "prompt notice" under duties after a loss. It omits the word "sudden" in peril # 9. (Accidental discharge of water or steam from a plumbing system, mechanical system or appliance.).And on and on and on.
As a result, the industry is paying billions on losses that would not be covered, had the policy been written, literally, to cover only the losses it was intended to cover.
At the time this policy was implemented , the "Mold rush" was not foreseen. At least the DOI is now allowing new policies to be written that do not cover mold under any circumstances. Unfortunately (or fortunately for cat-adjusters, remediation contractors, PA's and attorneys) this transition of policies is creating a whole new slew of claims from policyholders to "get it while they can".
Alas, the "rush" will be over in Texas after a couple of more years and after several more billion dollars are spent (by the carriers and ultimately the policyholders by way of premium increases.)
For those of us honing our mold adjusting skills, we are carefully watching the "infestation" of this "Mold rush" creeping into other states. There are after all 49 other states!
Anybody know what the average relative humidity in Hawaii is ? |
Andrew K. Sloane
Member
Username: Claimsranger
Post Number: 19
Registered: 12-2001
| | Posted on Thursday, May 09, 2002 - 7:18 am: | |
Son, Thank-you, I'll get started later today when I get home! |
Jim Flynt
Registered User
Username: Jimflynt
Post Number: 287
Registered: 6-2001
| | Posted on Wednesday, May 08, 2002 - 11:32 am: | |
I am setting up this new thread for reports from the cat adjusters who are currently on assignment working and handling mold claims fulltime so they can provide us with what they are seeing and experiencing.
If all you cat adjusters working mold presently will, please share with us your stories: what you are seeing, the nature of the loss, what caused the loss, what acts of mitigation insureds took before calling the insurance company, and what/how insureds are using mold to maximize the settlements with the carriers. Please also discuss any policy factors which come into play in handling these mold exposure claims.
Any information you can provide and share here will be helpful to all of us when we have to deal with mold in the next hurricane or flood. |
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