Merlin Law Group’s Post

Thanks for the shout out, Chip Merlin. In many of my trainings, I outline the importance of the “trifecta”, where an estimator is an expert in not just Xactimate software, but also building construction/building code, and policy. Estimators that lack any one of those will create deficient estimates, plain and simple. As outlined here - and even within the previous EULA version, deviations are supported by Xactware, but this requires competent individuals to outline their reasoning and purpose if and when they occur. This is exactly why we developed a patent-pending Custom Price List Program, which enables members to use Xactimate while representing their own reasonable overhead and profit needs. The Program updates the “Retail Labor” portion of each Retail Labor Rate based on actual financial statements of the member. Contractors should be representing their costs. This is a great solution, as it provides carriers the ability to run the same reports they normally run, and is driven by objective and independent review and publication of the amounts the contractor requires in order to operate. Xactimate is a foundation from which to start from. A contextual baseline. Valuable, but not preclusive.

Promised Land: Estoppel Trends in Policyholder Recoveries. Amy Lacey and Serena Mills analyse recent cases that demonstrate how insurers' claim handling practices can lead to estoppel and expand the scope of policy coverage. Read now. https://lnkd.in/db8swtC9 #policyholders #insurance #estoppel

While this can be disruptive there are companies who would be willing to take on these risks when positioned properly. #commercialinsurance #commercialrealestate #commercialproperty #nyc #insurance #propertyowners #nyrealestate https://lnkd.in/etxVx3J4

The tool is only good as the skill of the person who uses it........

Florida homeowners slowed their rush to take insurers to court and private carriers took hold of an increasing share of the state’s property market as 2023 drew to a close, helping to fuel optimism from regulators that the strained market may be turning a corner. Read the article here: https://ow.ly/mKIB50Qpx0Z #USA #insurance #reinsurance #homeowner

It’s inevitable that at some point we all have to navigate the claims process on our insurance policies regarding assets covered. For those not familiar with the process, this can be very intimidating. This article will explain the process and provide guidelines to make it as smooth as possible. To read more - click on the link below. #InsureCity #MidCityPropertyGroup #propertyinsurance #brokerage #insurance #insuranceclaim

"London’s approach to risk is in stark contrast to the hardening US insurance market, as US underwriters seeks rate increases in light of growing economic instability." Sarah Khan highlights the reasons for the Professional Indemnity insurance rate decrease currently being seen in the London market. Read more on each reason and what to expect for the rest of 2024. #ProfessionalIndemnity #MarketUpdate #WTW #ASmarterWayToRisk

Read the latest article from Insure City Insurance Brokers (Pty) Ltd.

Property insurance rate increases may be softening

Use of the correct procedure for intimating claims, accurate pleading of value, timely payment of court fees and instruction of an independent expert are all issues examined in this latest article from the CMS in Sheffield #legalnews #litigation #litigationlawyer #cms #cmslaw #insurance #insuranceindustry