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Monthly Archives: April 2016

Reliable Report Sources for Subrogation

“Straight from the horse’s mouth,” is a frequently used phrase to describe obtaining information from a reliable source that is on the best authority. File material often contains accident reports from the Ohio Department of Public Safety (ODPS), which are documents required to be submitted by local police agencies to the State of Ohio. While… Read More »

Actual Cash Value versus Replacement Cost Value

Insurance companies calculate amounts payable to policyholders for loss several ways, though most payments are based on Actual Cash Value (ACV) or Replacement Cost Value (RCV).  Replacement cost payment of property compensates a policyholder for the actual cost of replacing the property, typically evidenced by a purchase receipt.  On the other hand, actual cash value,… Read More »

Waiver of Subrogation Clause a Harsh Cliché

You just got a large claim into the Subrogation Department and you are tasked with determining whether or not a subrogation claim exists. It is a large loss. This is good. You’re doing the happy dance into investigation. After your investigation, liability is clear and it points to the General Contractor messing  up. There is… Read More »

SR-22 Bonds and Recovering Payments

Under the laws of the State of Ohio, an insurer who issues SR-22 bonds is able to recover payments from the insured in certain situations. Because the insured is required to have an SR-22 bond in their insurance coverage, the insurer is actually allowed to include a unique clause within the insured’s policy language. This… Read More »