Property Insurance Roundtable
How to Make the Most of an Underinsured Loss
Oftentimes post-disaster, policyholders unfortunately discover that they do not have enough insurance on their property. Preparation and planning in advance surely can help avoid such issues as being underinsured. However, after a loss there are still options available to the policyholder to maximize their financial recovery and minimize their underinsured loss.
- [01:07] How often are policyholders underinsured?
- [02:17] How can policyholders ensure they have the proper coverage?
- [05:36] How often should business owners meet with their insurance company?
- [06:11] What are blanket policies and how do they affect coverage limits?
- [08:53] What do policyholders need to do to conduct a comprehensive analysis of their policies?
- [14:50] Where do policyholders find hidden coverages?
- [18:40] Is landscaping coverage often overlooked?
- [23:11] What is third-party recovery and how does it affect coverage?
- [24:51] How does an insurance company adjuster help with third-party recovery, as opposed to a public adjuster?
- [29:01] How can the insured request advance payments from insurance companies?
- [30:35] Why is it important to negotiate during a policy claim?
- [34:08] What role can tax relief, government benefits and legal assistance play in the insurance claim process?
- [39:09] Where should people go to find an insurance adjuster in their area?
Clay Gibson’s professional career has been primarily in the insurance and disaster recovery industries. Now with Adjusters International, he uses this knowledge and experience to represent clients who have lost their homes and/or businesses in disasters. One of Clay’s roles is to ensure that all clients are satisfied with the services we provided. With over 25 years’ experience in the insurance field, Clay is fluent in “insurance speak” and understands the nuances in claims processes that can mean the difference between ruin and recovery for a disaster victim.
Clay, Director of Operations, is licensed as a public adjuster in 11 states and has represented clients throughout the western United States including victims of the San Bruno PG&E Pipeline Explosion, the Big Sur Wildfire, and the Boles Fire in Weed, California.
Clay has been featured as an expert panelist on Adjusters International’s Property Insurance Roundtable podcast in the episodes titled, “How to Make the Most of an Underinsured Loss,” and “Disasters Raising Questions of Insurance Adequacy.”
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).
Ethan A. Gross is the Vice President and Chief Operating Officer of Globe Midwest Adjusters International. During his 25-plus years as a public insurance adjuster, Mr. Gross has managed numerous complex claims resulting in favorable settlements on behalf of homeowners and multi-million dollar corporations throughout the United States and Canada. He is often appointed to serve as an arbitrator in resolving disputed insurance claims, and as an appraiser and umpire in statutory appraisals.
Mr. Gross frequently presents on insurance claims issues to professional groups throughout the country and has published several articles on a variety of property insurance claim topics. He also presents insurance courses certified by the state of Michigan for Continuing Education credits.
Before joining Globe Midwest Adjusters International as a fourth generation public adjuster, he worked as an attorney specializing in first party property insurance litigation. He is a member, and former board member, of the National Association of Public Insurance Adjusters and is the current President of the Michigan Association of Public Insurance Adjusters. Mr. Gross also belongs to both the American Bar Association and the Michigan Bar Association. He earned a B.S. from Eastern Michigan University in 1989 and graduated Magna Cum Laude from the Michigan State University College of Law in 1993.
Ethan is the author of the Adjusting Today article, “How to Make the Most of an Underinsured Loss” and was also a featured expert panelist on Adjusters International’s Property Insurance Roundtable podcast in the corresponding episode.