Top Legal and Financial Services in Yorktown Heights, NY
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Digitory Solutions Inc.
By Prettydress June 07, 2017
Thomas Disieno and Digitory saved me from losing close to half of my mother's personal property after a terrible fire. We got low balled by the insurance company, and not knowing what to do, we contacted our family lawyer. He was able to provide me the info on Digitory and explained to me that we can use arbitration to get a better settlement. He informed me that Thomas was very well respected within the national appraisal industry. Well he was right, Thomas tool this case on very aggressively and was extremely formal with all his submissions. It was clear early on that my insurance company (State Farm) had not prepared for such a pedigree as Thomas and Digitory. I highly recommend him. ...read more
Digitory Solutions Inc.
By Jacob Healing Public Adjuster July 29, 2010
I just wanted to say how well digitory solutions helps me process personal property contents claims for my insureds. I just fax them the insureds listing and they type and value every single item! Thanks ...read more
Digitory Solutions Inc.
By Anonymous June 30, 2010
Since we have been using Digitory Solutions I know longer view the process of doing an inventory as a hugh nightmare and time consuming. Once the insured has completed their list we forward it to Digitory and within a matter of days they have it done. It's easy, fast and cost effective for me to use their service. I do not have the tedious task of data entry and price costing. This allows me to move onto other claims and, above all, resolve claims faster for the insured so they can move on with their lives. - Hide quoted text - -- Michael F. Wahl Public Adjuster ...read more
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Insurance Claim Dispute In New York
Interesting information on Appraisals in New York State According to the Senate Bill 2088-A As an appraiser, it is very likely that there will be a situation where the insured feels that they need to invoke the appraisal clause to resolve an impasse of their insurance claim settlement amount. However, often, the Insurance Company will deny the insured's attempt to invoke appraisal on the grounds that it is not yet ripe for appraisal, or the dispute is of scope and not value. In my opinion, this can often be a "delay tactic" and an attempt to ensure their leverage during the claim process. An interesting Bill was passes earlier this year in New York that states that the insured can request the courts to compel appraisal when the Insurance Company is not complying to their request.Can an insured request the courts to compel the insurer to comply to their invocation of the appraisal clause? {Line 14, (C)} Compelling Appraisal: "In the event of a covered loss", insureds can compel the insurer to proceed with a requested appraisal. If the insurer feels that the part of the insured's loss is not covered, they can issue a partial coverage declination letter and reserve its rights to decline payment for the items which are not believed to be covered under the subject insurance policy. However, the insured can still compel appraisal. {Line 12-14} The court may enforce such an agreement as if it were an arbitration agreement, in which case the proceeding shall be conducted as if brought under article seventy five OF THIS CHAPTER. Scope Disputes The Senate Bill 2088-A allows the court to compel the parties to submit to the appraisal process as set out in a standard fire policy regardless of any dispute raised concerning scope of coverage or scope of loss. Amd SS3404&3408, Ins L; amd S7601, CPLR { Senate Bill 2088-A } In addition, the Office of General Counsel has issued the following informal opinion on March 6, 2001, representing the position of the New York State Insurance Department. Question: Can an insured be barred from obtaining an appraisal pursuant to the appraisal clause provisions of the standard fire insurance policy prescribed in New York under N.Y. Ins. Law ยง 3404 (McKinney 2000) with respect to the repair/replacement cost of a building loss based upon the fact that the insured and insurer have previously adjusted and reached an agreement on the repair/replacement cost amount and disagree only on the depreciation amount to be applied to the repair/replacement cost amount? Conclusion: the insurer and insured have previously agreed as to the amount of one or more of the components of actual cash value amount of loss.2010 Digitory Solutions, Inc.www.digitorysolutions.net ...read more
By Digitory Solutions Inc. September 15, 2010
Preparing for a Strong Appraisal Presentation
When a dispute arises between the Insurer and the Insured regarding the settlement amount, an appraisal may be requested by either party. Often, duringclaim negotiations, the Insurance Company may under value the claim, overlook damages, and ignore valid arguments that the insured and/or their Public Adjuster makes. Usually, this results in an "impasse". When aninsuredinvokes the appraisal clause to dispute the Carrier's offer, it is very important that they appoint an experienced and well-educated appraiser who understands not only the subject matter of the dispute, but the components of the appraisal process. Keep in mind that the appraisal process is essentially the policy holder's last chance to prove the value of their claim. It is possible that the appraisal can rule in the favour of the Insurer, leaving the insured with an insufficient amount to recuperate from their loss. This is known to happen when the Insured elects to appoint a contractor or other labor-related trades person who is in essence under-equipped to defend the Insurer's hired professional appraiser. The moment the claim enters theappraisal process, it is imperative that the appraiser prepares well for the presentation of the case. Here are a few simple guidelines to remember when preparing for the appraisal: 1.Be organized. Appraisal is like chess, developing a strategy to be a step ahead of your opponent is key. Determine the key issues and disputes with the Insurer's analysis of the claim. Pinpoint ways to address those key issues and figure out the best way to present those issues, together with your recommendations on how to address them, in the most persuasive way. 2.Prove the damages and the appropriate solutions. The burden of proof is often on your side, so gather data that would best support your claim. Provide extensive data and information on each item that you would like to focus on and explain why it values more than the amount the Insurer has priced it. Present photos detailing actual damages to items in order to prove that they should be replaced instead of restored. Anticipate how the Insurer's appraiser will counter your arguments, and be prepared to address those concerns. 3.Stay objective. Never use personal opinion to argue the value of items, unless your opinions are based onpresentedfact. This is particularly helpful for items such as collections, antiques and artworks. Secure appraisals of experts in these fields to determine the value of these pieces. 4.Acknowledge weaknesses in the claim.Avoid the temptation to prove every item on your claim to be correct. There may be instances when you would find that the Insurer's analyses of certain items are agreeable. Acknowledging those would strengthen your credibility because it shows that you are not out there to blindly maximize the settlement, but rather, to secure what is accurate and commensurate to the loss. 5.Review all presentation prior to discussing it with the opposing party. Be very thorough and examine each aspect of the presentation well in advance to give you time to polish and gather additional data if necessary. 6.Final presentation. The final presentation is complete, organized, and presented in a professional manner. When meeting with the other party, make sure that you know every aspect of your claim and can confidently answer any further concerns they may have about your presentation. 7.Bonus Tip:Remember that the number one most important aspect of the entire appraisal process is to secure the right umpire! ...read more
By Digitory Solutions Inc. September 15, 2010
Valuating Personal Property Claims
"No amount of insurance premiums can actually insure these objects in the sense of protecting them from physical harm or theft." Written By Thomas Di SienoCopyright 2010 Digitory Solutions, Inc.http://www.digitorysolutions.net/ Once gone, there is no replacing them in the literal sense; there is only left the remedy of substituting for them similar objects of comparable value. The entity that can be said to be insured, therefore, is the value thought necessary to procure an acceptable substitution, thereby continuing the enjoyment and benefits inherent in the bundle of rights we call property ownership. Since the rights conferred in the ownership of a property normally include not only the right to enjoy the benefits of maintained ownership, but also the right to sell and enjoy the proceeds of sale, it could be said that one is insured not a specific tangible object but rather the valuable rights associated with that object.Appropriate and Relevant MarketAppropriate and relevant market, in the context of insurance coverage, is most customarily understood to be that market in which the insured most typically purchases like items.With that being said, "Under appropriate length of time, there are buyers who customarily purchase from specialized high-level retail vendors. The higher-end prices normally associated with such vendors are typically justified in the minds of such buyers by certain benefits often seen to be conveyed with these purchases. Such benefits may include a more extensive warranty……they may also include any added pedigree, called provenance, which may be conferred with purchases from such a vendor, as well as any prestige value or status. Since there does indeed exist a commonly recognized status associated with certain vendors, and since that status is commonly thought to be conferred upon the purchased item as an enhancement of its value, as well possibly as an enhancement status of the owner, it should be quite reasonable to expect that the same item may be worth more to a consumer when purchased at one vendor or marketplace than at another. An insured accustomed to the prestige value and other privileges conveyed to them with the purchase from such a vendor or marketplace may be seen as poorly served by the replacement of that item within lacking these enhancement qualities or privileges. In such case the opposite Replacement Value should realistically be that which includes any and all additional costs necessary to replacing a lost property in the manner most typical to original purchase, including:Costs incurred in purchasing from a specific dealer, gallery or auction houseThose costs incurred in the engagement of consultant, interior designer or other commissioner (i.e "Antique Consultant")Those incurred in any transportation or installation of the property Let's recap… in order to determine RCV, we must include any expense incurred in any transportation or installation of the property. This goes from a toaster to a commercial blender, from a cd player to a sofa.ConclusionReplacement Valueis a concept of value with particular relevance to insurance coverage. It represents the amount of money required to replace a property with another of similar qualities within a reasonable length of time in an appropriate and relevant market. One must calculate all aspects of replacement to truly determine the replacement cost of any and all items. Source: TheAppraisal of Personal Property: Principles, Theories, and Practice Methods for the Professional Appraiser, ASACopyright 2010 Digitory Solutions Inc. ...read more
By Digitory Solutions Inc. September 15, 2010