Property & Personal Lines Expert

Property insurance seems simple at first glance – pay your premiums, report your claim to the carrier, settle the claim, repair/replace the damaged property. In reality coverage structure and claims handling is one of the most complicated areas in all of Property and Casualty insurance.

Our Experience with Property Insurance

Ms. Liljenberg has dealt with property insurance issues since 1985. As an agent she placed property insurance for a diverse clientele across a variety of industries. As an Expert Witness she can engage in cases across the spectrum of Property Insurance. Over her career she has developed broad expertise with underwriting, placement and claims handling practices in regards to:

• Homeowners Policies
• Builders Risk / Equipment Floater
• Flood Insurance.
• Business Income / Extra Expense.
• Inland Marine
• Buildings / Business Personal Property.
• Crime Insurance.

Coverage Structure

A plethora of policy forms and endorsements have been developed to insure diverse types and locations of buildings, contents, and Business Income exposures. Understanding the interaction between various coverage forms is required to implement suitable coverage structure. Property insurance exposures include:

• Inland Marine
• Business Income, Extra Expense
• Crime insurance / Fidelity bonds (employee theft)
• Builders Risk, Inland Marine, Equipment Floaters (Construction projects)
• Ordinance and law (building owners)
• Selling price valuation (manufacturers finished stock).
• Property of Others – Bailee exposure (dry cleaners, repair shops).
• Flood Insurance (NFIP + Excess Flood)
• Buildings, Business Personal Property

Potential Coverage Deficiencies

While property losses are disruptive, inadequate coverage can dissolve a business altogether. Properly structured insurance may ease the recovery process. The list of potential coverage deficiencies might include:

• Locations not covered.
• Inadequate Business Income limits, or NO coverage at all.
• Flood losses so catastrophic policyholders need years to rebuild – if they ever do.
• Preparing proof of loss forms to submit claim.
• Insurance to value – inadequate limits may result in coinsurance penalties.

Claim Disputes

Claims handling disputes between policyholders and carriers arise from a number of sources:

• Replacement cost vs Actual Cash Value
• Deduct Definition(s) of “Covered Property”
• Deductibles
• Special form (All Risk) vs. Specified perils
• Blanket vs. Scheduled policies
• Coinsurance penalties
• Vacancy clauses
• Hard to value property
• Contractual or Lease requirements

Homeowners face similar dilemmas:

• Where do we live after a fire? How would we pay rent?
• Do I have enough insurance to rebuild my home? Replace my contents?
• Is my home located in a flood zone?
• How are my home computer, jewelry and antiques covered? How will they be valued?