Hot Topics in Personal Lines
Approved for 2 hrs. P&C CE credit in SC
$48 Members/$68 Non-Members
This seminar begins with a practically oriented inquiry into how losses are adjusted on a day-to-day basis. The seminar introduces not only the two key adjustment valuation measures – “actual cash value” and “replacement cost” – but also stresses to the students that the concepts are not as uniform and concrete as industry practice may suggest. It then explains why this matters and includes practical illustrations of loss adjustment scenarios in which it is either impractical, impossible, or at least implausible to recreate precisely what the insured had prior to the loss.
These situations include older homes with ornate or impossible to replace materials; farm structures which cannot be rebuilt; and similar instances in which loss adjustment or settlement is complicated.