Policyholders all too often underestimate the importance of keeping a diary of the various events that occur during the course of a claim. Why is it important? First, it is a simple fact that memories fade with time. Although claims should be resolved promptly, they often are not. The process can be complicated with numerous
Brandon McWherter
Top 10 Reasons Complaints are Made Against Insurance Companies
By Brandon McWherter on
Posted in Miscellaneous
According to an April 28, 2009 report by the National Association of Insurance Commissioners ("NAIC"), the top ten reasons consumers complain about their insurance coverage are as follows:
- Claim Handling – Delays
- Claim Handling – Denial of Claim
- Claim Handling – Unsatisfactory Settlement/Offer
- Claim Handling – Other
- Underwriting – Premium & Rating
- Underwriting – Cancellation
- Policyholder
…
The Valued Policy Statute Should Not Be Limited to Losses Caused by Fire
By Brandon McWherter on
Posted in Valued Policy Law
Parks Chastain recently authored a post here in which he opined that Tennessee’s valued policy statute should apply only to losses caused by fire, not wind. I disagree.
Tennessee’s valued policy statutes (T.C.A. 56-7-801 through 803) were enacted in 1927, and last edited just a few years later. Read together, these statutory provisions, known as the…
An Outline for Dealing with the Judicial Estoppel Defense
By Brandon McWherter on
Posted in Judicial Estoppel
Insurers often assert the doctrine of judicial estoppel as a defense to first party claims when the insured filed bankrupcty within a few years prior to an insured loss. The most common scenario is a homeowner files bankruptcy, and utilizes the amount exempted by bankruptcy law as the value of his or her personal property…
Tennessee’s Elusive Standard for Valuing Household Personal Goods
By Brandon McWherter on
Posted in Valuation Issues
A common question around my office is, “How do I know what values to claim for my personal goods?” Fortunately, a 1958 Tennessee Court of Appeals opinion provides the answer, but it is not one that is widely disseminated by adjusters to policyholders. In Tennessee, household goods, furniture, clothing and other articles acquired for personal…