Insurance

Understanding EML and PML: The Dilemma Facing Policyholders in Property Insurance

by Rick Tutwiler on 9/20/2023

Insurance is a cornerstone of risk management, especially when it comes to safeguarding valuable assets like property. However, the concepts of Estimated Maximum Loss (EML) and Probable/Possible Maximum Loss (PML) have been causing ripples of discontent among policyholders. Let's delve into what these terms mean and why they are becoming a concern, especially for commercial clients such as hotels and apartment complexes.
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Policyholder Question – Being Underinsured can impact your Insurance Claim

by Charles R. Tutwiler on 8/16/2018

The following is an insurance claim question we answered for a policyholder through the United Policyholders Ask an Expert Forum.

Q. We are survivors of Hurricane Maria. Our property sustained severe damages from the wind and rain. The insurance company´s adjuster reports damages amounting to $36,000. But they are only offering $10,000 arguing that we failed to reassess the property in recent years. As a result, when they apply the per square foot construction cost mandated by the local insurance industry regulator, our property comes out as severely underinsured. We had purchased the property for $125,000 nearly 20 years ago and its value nowadays is below that amount owing to the economic recession. (Of the $125,000 we paid, the appraisal back then estimated the structure value at $40,000 and the land at $100,000) We are filing a second appeal and are wondering if this is an industry practice. Any suggestions?

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A Commercial Insurance Claim Victory in the Caribbean

by Charles R. Tutwiler on 6/18/2015

There is nothing like being victorious, especially when you know you were right. And sometimes the victory is sweeter when the fight was long and hard as was this commercial property insurance claim from a 2014 hurricane loss in the Caribbean that we wrote about a few weeks ago.

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Hurricane Damage

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Understanding EML and PML: The Dilemma Facing Policyholders in Property Insurance

Policyholder Question – Being Underinsured can impact your Insurance Claim

A Commercial Insurance Claim Victory in the Caribbean

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