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. Robert Prahl has more than 30 years of experience in the insurance business, primarily in claims and claims training. He began his career as an adjuster in the New York metropolitan area and eventually became a claims manager and claims training director. He has written extensively on insurance issues, having authored two text books for the Insurance Institute of America and previously served as a columnist for Rough Notes magazine, an insurance trade publication. Robert J. Prahl, CPCU ____________________ 1 A party wall is a dividing partition between two adjoining buildings that is shared by tenants of each building. 2 Building and Personal Property Coverage Form, CP 0010 06 07, Insurance Services Office (ISO Properties, Inc. 2007). 3 Jerome Trupin and Arthur L. Flitner, Commercial Property Risk Management and Insurance, 8th edition (American Institute for Chartered Property Casualty Underwriters/Insurance Institute of America, Malvern, PA 2009) p. 3.8. 4 Donald S. Malecki, Commercial Property Coverage Guide, 5th edition, (National Underwriter Company, Erlanger, KY 2013) p.26. 5 Malecki, p. 25. 6 The sixth edition of Black’s Law Dictionary, published in 1990, stated that the meaning of promptly “depends largely on the facts in each case, for what is ‘prompt’ in one situation may not be considered such under other circumstances or conditions.” See also State v. Chesson, 948 So.2d 566, 568 (Ala. Civ. App. 2006) which held that the term “promptly” has been construed to mean within a reasonable time in light of all the circumstances. (From Adams on Contract Drafting, 2013 Kenneth A. Adams, kadams@adamsdrafting.com.) 7 Malecki, p. 27. 8 Building and Personal Property Coverage Form, CP 0010 06 07, Insurance Services Office (ISO Properties, Inc. 2007). ABOUT THE AUTHOR 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 © 2015 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 AT15 3046 Although it is advisable and beneficial to make lease provisions as precise as possible to reflect the intent of the parties, it is difficult, if not impossible, to draft leases that can be so comprehensive as to completely eliminate all possible disputes.
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