Despite efforts to provide a safer work place on the farm, history has shown that agricultural activities are still among the most dangerous in terms of job-related injuries. Indiana law requires most employers to provide worker’s compensation insurance coverage for the benefit of employees. That insurance pays for necessary medical…
Tornadoes and severe storms recently devastated large areas of southern Indiana on March 2, 2012. As a direct response to those events and in an apparent effort to protect policyholders affected by the weather disaster, the Indiana Department of Insurance (“IDOI”) has issued a moratorium on the cancellation of insurance…
XI. The Insured Always Loses. The sad part about a catastrophe such as a fire is that it leaves the insured always in a worse position than they were before the fire. In addition to the obvious emotional toll, the time needed to devote to the developing of a claim…
IX. Actual Cash Value vs. Replacement Cost. Insurance provided by any fire insurance policy is either an indemnification policy that indemnifies the insured for the loss, or a replacement policy. Depending on coverage, the loss can be based on the actual cash value of the property loss or on the…
VIII. Proof of Loss. Within a day or so of the fire, an insurance adjustor will provide to the insured claims forms for what is called the “Proof of Loss.” The Proof of Loss itself is a one page document in which the insured summarizes the amount of the loss…
VII. Special Investigations Unit (SIU). If, after taking the statement under oath and conversing with the fire or police authorities, the insurance adjustor calls in the Special Investigations Unit (SIU), look out. It’s time to seriously begin protecting your own interests. The insurance company’s SIU investigator is there for the…
V. The Insurance Adjustor. There will be one, and very well may be two insurance adjustors assigned to your claim. One adjustor may specialize in structural damage while a second adjustor may deal with the loss of household goods and personal property. It is now time for you to be…
III. Coverage. The insurance agent has dictated the information contained in the application, photographs submitted to the company, and the desires of the insured to obtain maximum coverage. It is important, on the other hand, that the coverage provided has a relationship with the fair market value or actual cash…
I. Introduction. Short of a death or serious personal injury, the most devastating thing that can befall a family is to have their home or business destroyed by fire. It is hard to imagine the emotional upheaval to stand by and watch the fire department attempt to save your hopes…