Who is The Peril Group?
When working for the policyholder on adjusting their insurance claims, we realized that not only did most of our customers not read their insurance policies, many did not even have copies of their full insurance policy jacket! In working the claims file, our team would have to navigate restrictive policy language that would hinder our client’s outcome. Certain endorsements and exclusions would be hidden within these massive insurance policies that absolutely hurt our client’s chance at success. It was then that we realized we needed to advocate for our customers on the forefront and offer a service to analyze their policy prior to having a claim and also ensure they had the correct amount of coverage so to deter a co-insurance penalty down the line.
The Peril Group is proud to offer the following services:
Full Policy Review
While retaining an insurance agent or brokerage to shop policies and quotes is very helpful, seldom do these agents understand the full insurance policy in it’s entirety. Hidden within the typical 200+ pages of a commercial business property policy are a host of exclusions and endorsements that could hinder you in the event of a claim.
It is imperative to protect your asset by have a team on your side on the forefront of experiencing a peril. Our team of experienced adjusters will use their years of knowledge to analyze and existing or potential insurance policy for deficiencies that would hinder you in the event of a claim.
Once identified, we can work with you or your agent directly to correct the policy or shop for new coverage placement.
Complimenting the full policy review, our disaster planning team will work with you to ensure we are equipped with the documentation of your property’s condition, inventory and records. Make no mistake, when a claim is filed your insurance carrier immediately works to investigate the claim. Adequate documentation, pre-loss, is of the utmost importance in the event of a claim.
After experiencing a peril, there will be several immediate issues to tend to, such as: emergency mitigation, temporary repairs, potentially relocating the business operations or tenants, etc. The last item a property owner wants to contend with is locating various documents and records, if they survived the catastrophe, in order to supply the carrier with their necessary requirements to pay the claim appropriately. Every second after the loss is critical and each move made could potentially cost 10’s of thousands of dollars to your business.
Having our team on your side to assist with the pre-planning and steps, post-claim, will be one of the best decisions you could make for your business.
Upon acquiring a new asset, it is important to understand the current state of the property and any past insurance claims that may have been involved.
Always request a copy of the loss runs affiliated with all policies coverage the building. Once that information is obtained and if there was an experienced loss, request copies of all invoices / receipts of work completed as well as details regarding any outstanding work that was not previously completed.
Additionally, request the full insurance policy jacket to understand the coverage currently held on the property. If there is an existing insurance claim that was denied or potentially underpaid, request an assignment of insurance proceeds so that the claim may still be addressed after closing.
Our team at Peril Public Adjusters can take over from there.
Solution For Every Management Risk
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