GlobalPro Recovery, Inc. has an insurance industry leading solution for Superstorm Sandy victims with insurance claims that have been delayed, underpaid, or denied. With each day that passes, the industry landscape becomes more and more confusing. Many policyholders have missed important policy deadlines, and affected municipalities have published new, complicated flood maps. Also, adjusted tax assessments were recently released that reduced property values for many homeowners; construction costs to repair and replace damaged property continues to soar; and costly building code revisions are on the horizon. The policyholder experiences a lingering uncertainty due to the slow claim process and understaffed insurance companies, which in recent years collected record profits. The difficult policyholder experience, after a major storm like Sandy, is challenging at best, and in many cases, frustrated policyholders unknowingly cause harm to their claims. The Insurance Companies are betting on policyholders’ mismanagement of their claims, and the Carrier’s bottom line benefits from the mistakes. The policyholder’s responses to insurance company requests and the timing of those responses are extremely important. These interactions with the insurance company will determine the homeowner’s chances of recovering the maximum amount for their Superstorm Sandy damages. GlobalPro Recovery can help.
GlobalPro Recovery, Inc. has an insurance industry leading solution for Superstorm Sandy victims with insurance claims that have been delayed, underpaid, or denied.
As a policyholder, it might seem like, “I’ve given them everything, what more can I do?” Perhaps, a policyholder may even think, “Does filing a complaint with the State help?” or even maybe “Should I file a lawsuit?” GlobalPro Recovery’s advice is to slow down. Maybe there is more a policyholder can do or questions that still need answers before they file a complaint or give a large cut of their claim to a lawyer. The policyholder needs to take a step back and consider whether or not they have actually finished evaluating their claim? Did the policyholder considered the cost to rebuild their damaged property in accordance with the adjusted base flood elevations (ABFE)? Do they even know how to do this? Is this cost recoverable? Sounds complicated, because it is. Has an engineer properly inspected the property for hidden damages that may present themselves at a later date, like a bent window frame or loose shingles? But, maybe the policyholder thought it was too expensive to hire an expert to identify these damages or they think because the Insurance Company Adjuster didn’t find these damages that they don’t exist; think again. Consider where the Insurance Company’s Adjuster is from and how familiar they may or may not be with the local construction practices. Consider their experience and background and how long they have been an adjuster or in an industry similar to it. But, even if they are familiar with the building codes and have the experience they most often are overworked handling a countless number of claims with not enough time to identify all of your damages.
For business owners, is the loss of business income really not covered even if the insurance company did not find “direct physical damage” by a “covered cause of loss” to their “covered property”? Does the business owner even know what this means in the context of their policy? Most often, this isn’t the only way a business owner can recover their loss of income or extra expense. Perhaps, the policyholder should consider a question completely unrelated to insurance; does their property damages qualify them for property tax relief? Did the policyholder even think to ask their local property appraiser? There is relief, so start asking the right questions and get the right answers.
Here’s another question; the Federal Government has turned a corner when Superstorm Sandy Relief Bill was recently signed, but how is the money being allocated? “What does this mean for me?” It might have taken 3 months to accomplish the more than $50 billion allocation, but it was just in time for the 90th day anniversary of Superstorm Sandy. An all-important milestone that few policyholders understand, but for those in the insurance industry, we know it all to well and its impact on the insurance claim process. Historically, the 90th day was a threshold for most insurance companies to make the all-important decision to either pay or deny and defend. Unfortunately, following a major event, like Sandy, over the years many Insurance Companies have chosen to deny and defend rather than pay, knowing the policyholder will most often settle for less. Consequently, countless lawsuits resulting in millions of dollars in settlements have been paid out, but only years later when the Insurance Companies were ultimately found guilty of these bad faith practices. But, there are many things a policyholder can do now, to avoid such a situation or to protect the claim on their home, business, condominium or homeowners association, and/or co-op, so that they don’t settle for less.
“Our team at GlobalPro Recovery is very familiar with the devastation caused by Hurricanes and the necessary attention to detail that is required to properly file a claim for damages. Our adjusters, families, and friends are your neighbors in the North East – New York, New Jersey, Connecticut and the other effected areas,” said Daniel Odess, President of GlobalPro Recovery Inc.
“Over 100 local businesses, homeowners, condominium associations, homeowner associations and co-ops, have already experienced our effective team approach to the claims process. We provide a unique service to the policyholder that fully evaluates the loss to their property, contents, and financials. Our public adjusters are, most often, licensed in something other than just insurance adjusting, such as, construction, law, and engineering, providing extensive expertise that goes beyond just insurance to ensure the policyholder receives the maximum settlement for their claim. We are apart of your community and through the representation of many, our ongoing educational programs, and community outreach we are ensuring that our community recovers, rebuilds and gets back to normal.”
For over 20 years GlobalPro Recovery Inc. and sister-company East Coast Public Adjusters have overseen insurance claims for residential, business, commercial and industrial properties, condo units, condo associations, boat owners and marinas. GlobalPro works on behalf of policyholders to make sure that insurance claims are fully and properly documented, policy guidelines and procedures are carefully observed, damage assessments are thorough and accurate and deadlines for filing critical information are met. GlobalPro uses state-of-the-art software and their experienced team of professionals to accurately analyze and adjust losses fairly and efficiently. A recent study conducted by the State of Florida found that policyholders represented by a public adjuster typically recover amounts more than 500-700% higher than their insurance companies offered to pay them. Best of all, as public adjusters we work for on contingency fee; we only get paid, if we get a recovery. No recovery, no fee.