From attorneys to adjusters, claims professionals often regale us with tales of how certain noteworthy cases challenged and intrigued them. As the years go by, some claims resonate with our audience more so than others. The lesson learned from this recent contents claims was clear: Not all appraisals are created equal.

The Situation

A claims adjuster received a call on contents claims specialists to review a claim of $185,000 for a stolen painting. The painting was a depiction of a religious scene dating from the 17th century. The claim amount was based upon an appraisal from a prominent west coast art gallery. The art gallery staff completing the appraisal had the additional credentials of being associate members of the Appraisers Association of America. Despite the gallery's prominence and the staff's impressive credentials, the claims adjuster handling the case wanted to investigate further before approving settlement and payment of the full amount. He consulted with a team of specialists to confirm the appraisal.