Adjusting Today Basis for Institutes CE Courses The Institutes, the leader in providing knowledge solutions for risk management and the property/casualty insurance industry, offers continuing education courses based on technical information compiled from issues of Adjusting Today. The courses — “Valuing a Property Insurance Claim” and “Natural Disasters: Coverage Issues”— include seven modules each and are approved for credit by insurance departments in most states. They are offered to property insurance producers, adjusters or both, depending on the state, for up to three continuing education credit hours per course. More information is available at CEU.com. ____________________ 1 Force majeure is a common clause in contracts that essentially frees both parties from liability or obligation when an extraordinary event or circumstances beyond the control of the parties, such as war, strike, riot, crime, or an event described by the legal term act of God (such as hurricane, flooding, earthquake, volcanic eruption, etc.) prevents one or both parties from fulfilling their obligations under the contract. In practice, most force majeure clauses do not excuse a party’s non-performance entirely, but only suspends it for the duration of the force majeure. CORPORATE OFFICE 126 Business Park Drive Utica, New York 13502 800.382.2468 Outside U.S. (315) 797.3035 FAX: (315) 272.2054 Editor@AdjustingToday.com Copyright © 2016 Adjusters International, Inc. Adjusters International ® and the AI logo are registered trademarks of Adjusters International, Inc. Follow Adjusting Today on Facebook & Twitter: Facebook.com/AdjustersInternational Twitter.com/AdjustingToday ADJUSTING TODAY is published as a public service by Adjusters International, Inc. It is provided for general information and is not intended to replace professional insurance, legal or financial advice for specific cases. ADJUSTINGTODAY Adjust ingToday. com View our entire catalog of back issues, download PDF versions, subscribe and contact the editor. WEB ADDRESSES AdjustersInternational.com AdjustingToday.com PUBLISHER Ronald A. Cuccaro, SPPA EDITOR Sheila E. Salvatore AT16 2006-E Mr. Malecki was a principal of Malecki Deimling Nielander & Associates, LLC, an insurance and risk management firm. Over a career that spanned more than half a century, he held the titles of insurance underwriter, broker, insurance company claims consultant, archivist, historian and teacher. Donald S. Malecki, CPCU ABOUT THE AUTHOR The purpose of this coverage is to protect the company when these suppliers or customers sustain a covered property loss that shuts down their businesses, leaving the company without a supplier or customer and thus resulting in significant financial loss. Although this article has touched on some of the insurance provisions and disputes that can arise when a loss occurs, it is imperative that companies needing this type of insurance confer with insurance professionals who understand the coverage and the loss exposures the companies face. Obtaining this coverage while being advised by an insurance professional can effectively mitigate or minimize the financial loss that might result in the absence of such coverage.
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