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Last Post 11/13/2009 12:23 AM by  insprojohn
What's the early read on underinsurance in the latest round of Cats?
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Author Messages

10/06/2008 12:28 PM

    I'd appreciate some insight from the front-lines.

    How serious is the underinsurance in the latest round of Cat's?

    Is there a noticable difference in the adequacy of reported values between buildings, contents, or business interruption?

    Can you tell if there are issues with the quality of other underwriting variables?
    a) risk classification (lumber yard vs building material dealer, tattoo parlor vs misc retail)
    b) sq ft
    c) construction
    d) basement levels
    e) address, zip, distance to coast, flood zone, etc.


    John Nixon
    Veteran Member
    Veteran Member

    10/06/2008 7:43 PM
    Why do you ask?

    Anyway, you know how cats are................................cats have staff; dogs have owners.
    Larry D Hardin

    03/25/2009 11:08 AM
    I'd say about 25% of what I handled had a coinsurance penalty of some type. Quite a few were endorsed to waive coinsurance.
    SCLA, Multi-line Adjuster specializing in Commercial and Multifamily Dwellings. (I prefer the "P" of P&C)

    11/13/2009 12:23 AM

    What is your opinion of AEI and the SCLA program?  Do you have any experience or knowledge of the AIC program?  I am in the process of getting AIC designation but the Claims manager of an IA firm has his AIC and PCLA and his opinion is that the  PCLA is actually much better than the AIC.  In my case I already bought all the books for AIC and only need to pass 2 more exams and I already paid for 1 exam so I really will only need to pay for and pass the final exam for AIC so I will get the AIC designation.  But I would like your opinion on PCLA.  Did you take the CCLA too?  I believe my acquaintance told me the primary difference between AIC and PCLA was the coverage law.  I would also believe the AIC goes more into adjusting details than the PCLA.  As the Property Loss Adjusting course of AIC has over 170 pages on construction, materials, residential  component identification, how to measure concrete, paint, roofs, area, circumference,etc,,,,  so it is probably very good for an adjuster to take AIC to learn how to adjust as much as you can from reading books.  Anyway I look forward to your reply.

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