Expecting the Unexpected: Surviving Disasters
Expecting the Unexpected, Part of the Unexpected: Surviving Disasters – Natural or Otherwise
Policyholders may not realize the benefits of hiring a public adjuster until they understand the complexities and time required to prove and file an insurance claim. Disaster claims may be the most difficult type of claim to handle for commercial business owners whose core business is not insurance. Understanding ambiguous policy terminology of individual insurance providers and applying them to a claim are both solid reasons to hire a public adjuster. Public adjusters work for your business to maximize your claim in the event of a disaster.
- Actual Cash Value (ACV): The value of property immediately before loss taking into account its “used” condition, wear & tear, etc.; usually considered the “depreciated value” although “market value” and obsolescence may sometimes also be taken into account.
- Replacement Cost: The cost to replace lost or damaged property new, with no deduction for depreciation or obsolescence.
- Selling Price Clauses: Clauses that allow the insured to recover loss of finished goods at selling price, including the loss of profit.
Key Takeaways:[1:48] Is it possible to be 100% prepared for a natural disaster? [6:27] What is the difference in evaluating a policy on cost versus post-lost, for a policyholder? [9:57] What are some real world disasters that are not commonly thought about? [23:06] Is there a timeframe in which people are able to add disaster coverage to their policy?
View All Close
Ronald A. Cuccaro is the Founding President and Executive Chairman of Adjusters International, one of the nation’s premier disaster recovery consulting organizations. More than 27 years ago, Cuccaro worked to bring together the best regional public adjusting firms to form Adjusters International, a corporation with the capacity to react to widespread natural disasters with the highest level of resources and professional expertise, and a core commitment to its clients for excellence and integrity.
Cuccaro actively manages the day-to-day operations of the corporation, leading Adjusters International on its continued path of growth and expansion.
John Marini has extensive disaster recovery experience and knowledge of public adjusting and the FEMA Public Assistance Program. He specializes in assisting public entities with their financial recovery through the integration of insurance claims with FEMA grant funding.
Marini has established a team of more than 140 experts who assist applicants and grantees with their post-disaster FEMA grant management and insurance recovery. He is closely involved in the management of Adjusters International’s Catastrophe Operations, assisting FEMA Public Assistance applicants and grantees with recoveries from Hurricane Andrew in 1992, hurricanes Katrina/Rita/Wilma in 2005, hurricanes Gustav and Ike and the Midwest Floods in 2008, as well as many other cases.
Tony D’Amico has been evaluating property insurance claims since 1976. Prior to joining Goodman-Gable-Gould/Adjusters International, Tony was a Regional Property Supervisor for Travelers Insurance Company. Tony’s primary role with Goodman-Gable-Gould/Adjusters International is the evaluation and supervision of business income/extra expense losses, specialty lines claims such as builders risk, boiler and machinery and crime and fidelity claims. A sampling of significant insured losses Tony has supervised are Atlantic Premium Brands; Beaulieu of America; Boral Industries; Durst Corporation; Federal Realty Investment Trust; General Cigar/Culbro Tobacco; Gerber Childrenswear; IP Casino – Resort – Spa; Iron Mountain; J.C. Penney Company; Macklowe Development Corporation; Malden Mills; MeriStar Hotels; Morgan Stanley /Pyramid Advisors; Pan Am Equities; Rauch Industries; Revel Entertainment/Revel Hotel & Casino; St. Lukes Episcopal Hospital; Syratech Corporation; Texas Heart Institute; The New York Mercantile Exchange (NYMEX); The New York Palace Hotel; and York International Corporation.
Todd Thomas was recently brought on as Adjusters International’s new Director of Special Projects. He is also the Chief Consultant and Partner of Adjusters International’s affiliate Sigma Consulting Corp. He has worked in the Management Consulting industry for 24 years. Currently, he works with Adjusters International’s strategic partners to offer the highest quality Risk Management and Disaster Recovery consulting services possible. Thomas has worked in a management capacity on high-profile FEMA, insurance and construction projects since 1996. Thomas regularly serves as an expert witness and Special Master to courts in the area of finance & insurance.
Thomas’ experience assisting public entities, non-profits and other organizations with risk management and insurance includes but is not limited to broker selection, insurance marketing, total cost of risk, risk identification, risk allocation, underwriting, claims, financial risk management, FEMA obtain & maintain compliance, risk analysis, risk management information systems and enterprise risk management.
Brianna collaborates with AI’s nationwide firms to create robust social media campaigns while assisting the firms with updates to their websites regarding new search engine optimization techniques, content, imagery, the latest technology, and more. She regularly reports to management and the firms while measuring the effectiveness of different strategies. Brianna monitors the latest trends in social media and web design to keep AI on the cutting edge.
Ms. Moyer writes content for the websites which include blogs, web news stories, and landing pages. She has also been instrumental in creating Standard Operating Procedures for various AI initiatives such as trade shows and disaster plan protocols.