X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

A recent fire loss serves as yet another cautionary tale in making a coverage decision before all of the evidence has been gathered. All of the usual red flags were there: a fire at a business in the dark of night; the insured admittedly at the property immediately beforehand, with no viable alibi at the time of the fire; and a financial outlook that was bleak at best.

The direction this claim was headed seemed a foregone conclusion — until a week later when the electrical engineer concluded the fire was accidental, much to the surprise of everyone involved.

Prejudging claims is all too easy. On a subconscious level, we rely on years of experience to give us a useful feel for the issues and a sense of how best to approach a claim. The danger is when that experience leads us to oversimplify — or worse, to impulsively make decisions based upon suspicions rather than the evidence.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

 

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.