GlobalPro Recovery’s newsletter CLAIMS ADVOCATE focuses on the rights and responsibilities of the policyholder and/or claimant. Various topics are included in each newsletter to highlight current issues and trends in the insurance industry. Click on the links below to download your electronic copy (PDF) of CLAIMS ADVOCATE by GlobalPro Recovery, Insurance Information You Can Use.

Claims Advocate – December 2016 Vol 9

RINGING IN THE NEW YEAR
Building on the Success of 2015 – A Snapshot of Pivotal Recoveries and Savings
This year marked many milestones for GlobalPro and our clients. While GlobalPro rolled out it’s Advocacy service to help clients save money on insurance, the GlobalPro Team of Insurance Adjusters and Experts kept up the pace on the claim side by continuing to protect policyholder rights. Also, this year GlobalPro tackled countless liability claims and several insurance claims valued at over $10mm to $50mm.

SEBO V. AMERICAN HOME ASSURANCE CO., INC.
An important Win for All Policyholders
By Craig Applebaum
On December 1, 2016, the Florida Supreme Court issued a victory for property owners throughout the state in Sebo v. American Home Assurance Co., Inc. The case involved a homeowner who experienced damage to his household from multiple perils. Of the perils that contributed to the damage, some were covered, such as rain and wind, and at least one peril was excluded, defective construction. The central issue for the Court to decide was whether coverage existed where multiple perils created a loss, but one of those perils was excluded.

GLOBALPRO’S TEAM REPRESENTS 1,000 COMMUNITY ASSOCIATIONS
We are Committed to Our Mission.
Our Team’s years of experience is a major contributing factor to its continued success and growth. This year, the bar was set high, but the Team was committed to advocating for our clients and putting their interest first.

PROPERTY INSURANCE LOSS RUN AUDIT
Don’t Leave Money on the Table
Over the past two years, GlobalPro has identified more than $1,000,000 in claim payment short-falls. These audits were performed at no out-of-pocket cost to the Association. While, we may not always find an issue with the claim payment, you can’t possibly know that you have properly paid until it has been verified by GlobalPro.

Claims Advocate – May 2016 Vol 8

ANTI-CONSUMER POLICY CHANGES
More Premium for Less Coverage
In the last year, so many Insurance Companies in the Florida market have made changes to their policy forms leading to gaps in coverage or denied claims. We provide you a list of some of the notable changes that may effect your property insurance coverage.

FIRE SPRINKLER FAILURE LEADS TO BILLION DOLLAR LAWSUIT
A Scary Situation for Any Condominium Property Owner
In a recent lawsuit filed on behalf of two Condominium Association’s located in South Florida, they are suing a dozen manufacturers, suppliers and distributors behind the sprinkler systems installed in their buildings.

MARKET NEWS
What’s Trending
Changes in policy forms and legislative agendas have taken form in what should have been a very consumer friendly environment for Florida policyholders. However, savings on premiums are being traded for policies with less and less coverage and the continued commitment by Carrier’s to deliver profits to investors and shareholders has resulted in increased pressure for rate increases.

Claims Advocate – Sept 2015 Vol 7

DON’T MAKE A COSTLY MISTAKE WHEN HIRING A MITIGATION CONTRACTOR
Associations Need to Maintain Their Liability and Fiduciary Responsibilities
By Daniel Odess
Think about the last time your Association spent thousands of dollars without moving for a vote or hiring a professional to ensure the scope or price of a service provider or material supplier. Probably never, right?

However, when an Association suffers a loss all of this careful planning goes out the window along with the usual concerns relating to Board of Director’s liability and fiduciary responsibilities to the Association. In a hurry, the Board will typically assign all of the mitigation, reconstruction, and claim responsibilities over to a contractor. This “hurry up and get back to business” approach can easily lead to costly mistakes.

In this volume of CLAIMS ADVOCATE we take a closer look at this growing issue and the mistakes routinely made by Associations:

  • By-Law Violations
  • Why Mitigation Contractors May Put Their Interests First
  • How Construction Values Should Be Determined
  • Who pays for the work?
  • What’s The Solution?

Claims Advocate – Jun 2015 vol 6

GET LOWER PREMIUMS, EVEN AFTER LOSS
Loss History Doesn’t Necessarily Mean Increased Premium
by Daniel Odess
Market conditions and politics have more to do with rate increase or the likelihood that an Insured gets dropped following a major disaster than whether or not an Association, business, or home suffered a loss. Fear of getting dropped or increased rates can lead to inadequate recovery from a loss.

INDUSTRY TRENDS: FROM BUYING INSURANCE TO RECOVERY
Premium Hikes and Claims Handling Practices are Causing Concerns for Policyholders
by Travis Ozga
T
he only reason people buy insurance is to protect against potential financial loss. They trust their insurer to treat them fairly and decently. Today, the insurance industry is in grave danger of losing that sense of trust due to its misplaced focus on minimizing claims.

UNDERSTANDING DEPRECIATION
The Devil is in the Details
by Daniel Odess
Incorrectly applying depreciation can be used as yet another tool to hold back money or to underpay a claim, if it is not recoverable. Most policyholders don’t even realize that depreciation can account for 20%, 30%, 50% or even higher deductions in the total value of their claim.

Claims Advocate – Mar 2015 vol 5

RINGING IN THE NEW YEAR
Building on the Success of 2014 – A Snapshot of Pivotal Recoveries
by Daniel Odess
GlobalPro Recovery sets the bar when it comes to protecting the interest of their clients. In 2014, GlobalPro Recovery reached new heights by overcoming the odds for its clients. A snapshot of pivotal recoveries for a few of the many policyholders GlobalPro Recovery represented in 2014.

THE ROLE OF A LOSS CONSULTANT
An Alternative to Going It Alone
by Daniel Odess
Proper representation from the onset of the loss is essential to ensuring a full financial recovery from any first or third party loss.

TRAINING AND EDUCATION: THE KEYS TO SUCCESS FOR ADJUSTERS
GlobalPro Recovery’s World Class Service and Support Continues to Improve
by Daniel Odess and August Forte
An in depth analysis of what GlobalPro Recovery is doing to train it’s insurance adjusters to provide the world class level of service our clients deserve. Insurance adjusting is a complex professional discipline that requires both in-depth specialized knowledge and broad communication skills.

Claims Advocate – Oct 2014 vol 4

PREPARATION IS THE KEY TO SUCCESS
There Is No Substitute For Understanding Your Insurance
by Daniel Odess
Preparation is the key to any success in dealing with an insurance claim. It means having the on-site management team maintain thorough documentation of the condition of your assets and update that documentation on a regular basis. Those two steps will go a long way to managing the claims process and provide a solid foundation for an equitable recovery following a disaster.

LOSS OF INCOME FOR MULTIFAMILY BUILDING OWNERS
Few Multifamily Building Owners Are Prepared For The Worst
by Daniel Odess
Regaining that flow of rental income involves many more factors than the simple formula the carrier may lead you to believe and may try to use in determining the extent of a loss at a multifamily building.

PLACING INSURANCE FOR MULTIPLE LOCATIONS
The Devil Is In the Details – Save Time and Money
by Daniel Odess
It takes careful review of the policy and a keen understanding of each of these issues to determine how coverage should be determined for any one claim.

Claims Advocate – Oct 2013 vol 3

EXTRA EXPENSE VS. LAW OR ORDINANCE
How to Properly Claim for Fire Watch
by Daniel Odess
Based on proper reading of the policy, the available limits far exceed the remaining unpaid balance owed to the Insured. Regardless of the limits for law or ordinance, extra expense, or the combination of the two, and the additional time to comply with the building code law or ordinance, the Insured is entitled to this unpaid balance.

WATER DAMAGE & UNINSURED UNIT OWNERS
Proper Claim Presentation and Insurance is Key to Any Recovery
by Daniel Odess
Condominium unit owners need to obtain adequate insurance to protect their own property against loss or damage to an insurable risk. Additionally, condominium unit owners can protect their neighbors by properly vetting their Contractors. Verify their licensing and request a copy of their insurance. Check to ensure that the name of the company is the same name that appears on the their license and insurance.

CONSTRUCTION DEFECT
An Alternative to Litigation
by Daniel Odess
Construction defect claims caused by builders and developers may be in part or fully covered by an Association’s property insurance policy. Knowing how to properly report the claim, navigate the claim process, and exhibit the damages is critical to the Association’s successful recovery and may ultimately avoid undesirable litigation with escalating attorney fees and costs.