Left: Brian Revere, Brandon Lewis & New NAPIA President Jeff Gould, Middle: 2017 NAPIA Officers, Right: Minerva Covert, Marta Figueroa, Chip Merlin & Brandon Lewis
President's Letter
Greetings fellow GAPIA Members:
I write you today from San Antonio, Texas while attending NAPIA’s Annual Meeting. I am proud to advise you that as of Wednesday, June 21, my firm became NAPIA's newest member. While attending this incredible event, I had the pleasure of meeting with the President of the Texas Association of Public Insurance Adjusters, who was amazed when I advised him that GAPIA was 50 plus members strong in only our fourth full year of existence. Many other Public Adjusters and attorneys from around the country came up to congratulate us on our unprecedented growth. It was also nice to see some new faces from Georgia and GAPIA attending their very first NAPIA event. NAPIA is looking at becoming more involved with the regional associations in 2018 so I encourage you and your associates to apply for NAPIA membership as the future or our profession has never been brighter.

Essential Property Insurance Cover Information Withheld from Customers

An April 2017 report by United Policyholders reveals the state rankings of homeowner insurance protections that impact buying insurance. The research revealed that many major insurance companies and many states withhold coverage and policy provisions from consumers during the purchase. These same companies and states also withhold payment information.

No states were awarded the five-star ranking.

Florida and California earned three-star rankings with New York and New Jersey hitting the two-star level. The report measured just how well states themselves provide information to consumers and how their laws mandate insurance companies to disclose and provide to the public consumer.

Know Your Contract Limitations
Insurance claims come with an expiration date. Once the claim reaches its expiration date, the insured loses his right to recover. The contract of limitations provision in the policy identifies the expiration date which is the last date the insured can sue the insurer to enforce the recovery under the policy. A lawsuit filed after the suit deadline is subject to dismissal and the insured is effectively barred from recovery. A public adjuster should know when the contract of limitations expires and seek to resolve the claim prior to the expiration date. If the claim has not been resolved, the only way for the insured to preserve his rights against the insurer is to file suit before expiration of the contract of limitations.
Can Lenders Take Insurance Claim Proceeds and Apply Them to the Loan
It is not uncommon to see claims where an insured’s lender makes an already difficult property insurance claim even more problematic. Generally, this occurs where:
  1. an insured’s deed of trust requires the insured to name the lender as a loss payee on their property insurance policy;
  2. a loss occurs;
  3. the insurance company issues claim payments naming the lender and insured as co-payees; and
  4. the lender refuses to release the insurance proceeds to the insured in a timely manner.

Without the insurance money, many insureds do not have the resources to begin repairing property or resume business. Where the property damage is severe, insureds are often forced to incur substantial costs to rent other property, and cannot afford the rental costs on top of their mortgage. Things can quickly spiral out of control and the insured’s mortgage can go into default.

In situations like this, do insureds have any recourse against their lenders?

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