The Opportunity Cost of Physical Damage
March 10, 2020
An apparel retailer suffered a sewer line backup, rendering their corporate office unusable just days before a sales appearance on a nationally syndicated TV show. Their insurance carrier denied coverage for the overwhelming majority of the insured's six-figure losses.
Eastern Public reviewed and assessed coverage in the insured’s favor, prepared a formal coverage dispute, and successfully engaged the carrier to change their position resulting in full coverage for our client's loss, including not just the material damage, but the lost revenue that would have been afforded by the tv appearance.
Our Work
News & Press
In property insurance claims, Actual Cash Value (ACV) is often calculated as replacement cost minus depreciation—but that doesn’t always reflect a property’s true value. Under the Broad Evidence Rule, adjusters and appraisers are encouraged to consider multiple factors, such as market value, functional condition, and income potential, to arrive at a fairer and more accurate valuation. This approach is especially useful for properties with unique characteristics or market conditions that don’t fit neatly into a standard formula. By weighting different valuation inputs, professionals can better capture the real economic loss—leading to more balanced, defensible outcomes for both insurers and policyholders.
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