Property Insurance Roundtable
Expecting the Unexpected: Surviving Disasters
Policyholders may not realize the benefits of hiring a public adjuster until they understand the complexities and time required to prove and file an insurance claim. Disaster claims are a difficult type of claim to handle for commercial business owners whose core business is not insurance. Understanding ambiguous policy terminology of individual insurance providers and applying them to a claim are both solid reasons to hire a public adjuster. Public adjusters work for your business to maximize your claim in the event of a disaster.
- [01:48] Is it possible to be 100% prepared for a natural disaster?
- [06:27] What is the difference in evaluating a policy on cost versus post-lost, for a policyholder?
- [09:57] What are some real world disasters that are not commonly thought about?
- [23:06] Is there a timeframe in which people are able to add disaster coverage to their policy?
- [25:10] What key items should a policyholder consider in the pre-loss, planning stages?
[33:32] Understanding the terminology used in today’s policies:
- Actual Cash Value – Replacement cost less physical depreciation
- Replacement Cost Coverage
- Selling Price Clauses
- [41:43] Where should a policyholder go when they feel they need additional clarification?
- [43:51] What is the policyholder responsible for, following a loss?
- [53:46] Do commercial policies cover the charges for professional fees or public adjusters?
- [01:03:34] Informative articles on this subject and others are available on the Adjusters International website
Ronald A. Cuccaro is the Founding President and he currently serves as Executive Chairman of Adjusters International, one of the nation’s premier disaster recovery consulting organizations. Adjusters International represents the interests of organizations sustaining losses from disasters. Its experts focus on the FEMA grant application process and property insurance claims.
More than 30 years ago, Cuccaro worked to bring together the best regional public adjusting firms to form Adjusters International, a corporation with the capacity to react to widespread natural disasters with the highest level of resources and professional expertise, and a core commitment to its clients for excellence and integrity.
Adjusters International has provided disaster recovery assistance resulting from the Mexico City, San Francisco, and Los Angeles earthquakes; the 1993, 1997 and 2008 floods in the Midwest; and every hurricane to have struck the U.S. and Caribbean since 1985. Cuccaro coordinated the team of Adjusters International professionals named to the Governor’s Task Force on Damage Assessment for Oklahoma City following the bombing of the Alfred P. Murrah Federal Building; coordinated Adjusters International’s role as consultants to the Government of Kuwait with respect to war reparation claims submitted to the United Nations; and led the Adjusters International consulting teams that assisted the Port Authority of New York/New Jersey following both the 1993 and the 2001 World Trade Center attacks.
Cuccaro actively manages the day-to-day operations of the corporation, leading Adjusters International on its continued path of growth and expansion.
Ron is the author of the Adjusting Today article titled, “Expecting the Unexpected Part of the Unexpected: Surviving Disasters – Natural or Otherwise” and was featured as an expert panelist on Adjusters International’s Property Insurance Roundtable podcast in the corresponding episode based on his article.
John Marini has extensive disaster recovery experience and knowledge of public adjusting and the FEMA Public Assistance Program. He specializes in assisting public entities with their financial recovery through the integration of insurance claims with FEMA grant funding.
Marini has established a team of more than 140 experts who assist applicants and grantees with their post-disaster FEMA grant management and insurance recovery. He is closely involved in the management of Adjusters International’s Catastrophe Operations, assisting FEMA Public Assistance applicants and grantees with recoveries from Hurricane Andrew in 1992, hurricanes Katrina/Rita/Wilma in 2005, hurricanes Gustav and Ike and the Midwest Floods in 2008, as well as many other cases.
Tony D’Amico has been evaluating property insurance claims since 1976. Prior to joining Goodman-Gable-Gould/Adjusters International, Tony was a Regional Property Supervisor for Travelers Insurance Company. Tony’s primary role with Goodman-Gable-Gould/Adjusters International is the evaluation and supervision of business income/extra expense losses, specialty lines claims such as builders risk, boiler and machinery and crime and fidelity claims.
A sampling of significant insured losses Tony has supervised are Atlantic Premium Brands; Beaulieu of America; Boral Industries; Durst Corporation; Federal Realty Investment Trust; General Cigar/Culbro Tobacco; Gerber Childrenswear; IP Casino – Resort – Spa; Iron Mountain; J.C. Penney Company; Macklowe Development Corporation; Malden Mills; MeriStar Hotels; Morgan Stanley /Pyramid Advisors; Pan Am Equities; Rauch Industries; Revel Entertainment/Revel Hotel & Casino; St. Lukes Episcopal Hospital; Syratech Corporation; Texas Heart Institute; The New York Mercantile Exchange (NYMEX); The New York Palace Hotel; and York International Corporation.
Todd Thomas is the Vice President at Adjusters International. He is also the Chief Consultant and Partner of Adjusters International’s affiliate Sigma Consulting Corp. He has worked in the Management Consulting industry for 23 years. Currently, he works with Adjusters International’s strategic partners to offer the highest quality Risk Management and Disaster Recovery consulting services possible. Thomas has worked in a management capacity on high-profile FEMA, insurance and construction projects since 1996. Thomas regularly serves as an expert witness and Special Master to courts in the area of finance & insurance.
Thomas’ experience assisting public entities, non-profits and other organizations with risk management and insurance includes but is not limited to broker selection, insurance marketing, total cost of risk, risk identification, risk allocation, underwriting, claims, financial risk management, FEMA obtain & maintain compliance, risk analysis, risk management information systems and enterprise risk management.
He is a Fellow of the American Academy of Financial Management (FAAFM), Member of the American Economic Association, Member of the Association of Certified Chartered Economists, a Fellow of the Risk and Insurance Management Society, Member of the Global Risk and Insurance Management Institute, Caribbean Actuarial Association and Member of the Institute and Faculty of Actuaries. Todd is a Chartered Economist (ChE), Certified Risk Analyst (CRA), Certified Organizational Risk Manager (CORM), RIMS Fellow (RF), Fellow of Risk Management (FRM), Chartered Property & Casualty Underwriter (CPCU), Associate in Risk Management specializing in Public Entities (ARM-P), Master Project Manager (MPM), Accredited Financial Analysis (AFA), Accredited Management Accountant (AMA) and Workers Compensation Claims Law Specialist (WCLS).
Brianna Moyer joined the Adjusters International team in 2014 as the Social Media Specialist and was promoted to Digital Marketing Manager and Website Administrator. Brianna collaborates with AI’s nationwide firms to create robust social media campaigns while assisting the firms with updates to their websites regarding new search engine optimization techniques, content, imagery, the latest technology, and more. She regularly reports to management and the firms while measuring the effectiveness of different strategies. Brianna monitors the latest trends in social media and web design to keep AI on the cutting edge.
Since joining Adjusters International, Brianna has introduced new media ventures such as a podcast series titled, Property Insurance Roundtable and producing video clips. Ms. Moyer writes content for the websites which include blogs, web news stories, and landing pages. She has also been instrumental in creating Standard Operating Procedures for various AI initiatives such as trade shows and disaster plan protocols.
Prior to joining Adjusters International, Brianna worked as an Assistant Business Manager and Sales Assistant at Townsquare Media. In her free time, she pursues freelancing opportunities as a graphic designer and website developer.
For further information on this topic, please read our Adjusting Today article: “Expecting the Unexpected Part of the Unexpected: Surviving Disasters – Natural or Otherwise.”