Contingent Business Interruption Issues Continue Following Disasters in Japan

ADJUSTING TODAY

“…one must exercise the utmost in diligence and perseverance in working through the claims process. To do otherwise will result in covered losses that either are underpaid or are not paid at all.”

...the flow of goods and services to or from the insured. However, financial payments by the insured to the dependent property are not allowed unless approved by the insurer. It seems non-financial means of influence may have to be considered so as not to prejudice coverage by not being compliant with this policy condition.

Perseverance Essential

In concluding this discussion, our intent was not to argue coverage or provide specific solutions to the myriad complicated issues that will be encountered in connection with contingent time element claims arising from the Japanese catastrophe. In fact, we believe that the complex issues that arose after the September 11, 2001 terrorist attacks may pale in comparison to the issues that many will encounter in the Japanese scenario. Rather, our point is that one must exercise the utmost in diligence and perseverance in working through the claims process. To do otherwise will result in covered losses that either are underpaid or are not paid at all.

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Anthony J. D’Amico, SPPA Adjusters International
Harvey M. Goodman, SPPA Adjusters International
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Ronald A. Cuccaro, SPPA

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Sheila E. Salvatore

ADJUSTING TODAY is published as a public service by Adjusters International, Inc. It is provided for general information and is not intended to replace professional insurance, legal and/or financial advice for specific cases.

AT11 2002-EA

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