The LNU, CZU, and SCU wildfire complexes and the River Fire in the Monterey area are ravaging California. In our area (LNU), many friends and neighbors have been evacuated; across the state, so many people have lost homes and businesses. Our hearts go out to everyone affected and we hope that these fires will be…Read More
Equipment Fire Loss: Compiling a List for Insurance Claims
Compiling a List for Insurance Claims Devastating fires in the Napa, Sonoma and Santa Rosa areas have burned thousands of homes, businesses, and other structures. In the wake of the damage, fire loss claims are inevitable. It’s not always an easy process to assess what’s been lost, especially in the midst of sometimes overwhelming grief…Read More
Wildland Fire Litigation Conference: A Report
Several years ago while serving as equipment appraisal expert witness for the Ophir Fire, I discovered the Wildland Fire Litigation Conference and put it on my appraisal bucket list. Just this year, my schedule finally allowed me to attend the conference. In the intervening years, I’ve done many equipment appraisals related to insurance loss claims,…Read More
Case Study: Inventory Fire Loss
Join us Friday, Nov 10, 2017, 4:00pm to 5:00pm at Caruso’s in The Westin St Francis, Union Square in San Francisco, CA, when ASA equipment appraiser, Jack Young, ASA, CPA, will be available to answer your questions about the importance of independent, defensible and USPAP compliant equipment appraisals for in fire litigation. Click here for more information &…Read More
Factors in Appraising for Fire Loss or Theft
How do we appraise equipment that’s been destroyed or stolen? Of course we hope for good records — photos, equipment lists, maintenance records — but rarely are those available. Often whatever records might have existed have been lost in the same fire that destroyed the equipment. In most of the fire cases we’ve been called…Read More
Equipment Appraisals for Insurance Claims
Equipment appraisals for insurance claims come in two categories: the equipment owner may need an equipment appraisal to engage with the insurance company, or an insurance company may request an equipment appraisal for fulfilling a filed claim. In both of these cases, standard operating procedure is to call the equipment appraiser after the damage has…Read More
Appraisals for Insurance Purposes: Replacement & Reproduction Values
Appraisals for Insurance Reasons? Newly proposed updates to official Definitions of Values from the Machinery and Technical Specialities branch of the ASA include changes to the definitions of Reproduction Cost New & Replacement Cost New as they relate the the insurance industry. Please bear in mind as you read that none of these definitions have been officially accepted and some of the definitions are still being discussed. Read More