This post comes from observations at this week's CPCU Society Annual Meeting in Orlando, Florida.
One of the many speakers at this annual CPCU Conference was an insurance expert witness. He made a good observation. He said that it would probably take an experienced person 10 to 15 minutes to go over each listed item of expense in a 200-line Income Statement submitted on a Business Interruption Claim, and say, "This is excludable, this is not."
Sometimes experience has no useful substitute. It is almost always far less expensive in investigating and evaluating Claims than any other reasonable alternative.
These and similar Insurance Questions including the many benefits of consultation with Expert Witnesses, have in general terms been addressed by many Courts, in many decided Cases. Dennis Wall is Co-Author of the leading book on Insurance Coverage for Catastrophe Claims, "CATClaims: Insurance Coverage for Natural and Man-Made Disasters" (West Publishing Company 2008; 2010 Supplement in process). An experienced Expert Witness in Insurance Cases himself, Mr. Wall will speak on Business Interruption Insurance Coverage Issues including those arising out of the BP Oil Spill Catastrophe, on November 17, 2010, at a Seminar of the Insurance Law Committee sponsored by the Orange County Bar Association in Orlando, Florida. Mr. Wall will also speak on a panel at the American Conference Institute's Bad Faith Litigation Conference in Orlando, Florida on November 30, 2010 on "Dealing With Catastrophic Disasters: How to Properly Investigate and Handle Overwhelming Claims". The author has been advised by the American Conference Institute that the ACI is continuing to offer its discount to readers of this Blog: Download ACI Advises Readers of the Insurance Claims and Issues and Insurance Claims and Bad Faith Law Blog are entitled to a discount.
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