First Party Property Coverage

Our Philosphy

Our Property Team has been trained to protect the interests of our insurer-clients and help them avoid overpaying claims and/or paying fraudulent claims. At the same time, we recognize that first party investigations need to be handled carefully and that the insured’s perception of how the claim is being handled can be very important. Our attorneys are adept at maintaining this delicate balance. When it comes to third-party claims and first-party matters in litigation, we are dedicated to early resolution when possible. The Property Team is generally instructed to make contact with the opposing party early on to determine whether a case can be resolved at the initial stages on favorable terms. Whether we are conducting a first party investigation or defending a third party claim, we recognize the potential value of the loss is extremely important to the decisions to be made on any given claim. Therefore, our initial investigative efforts focus heavily on determining the likely value of the claim and that information is communicated to our clients immediately.

Expereince

First Party

We have attorneys with many years of experience in the investigation of first party property claims. These types of claims can lead to large exposures for an insurer if they are not handled properly. Our attorneys are trained in the areas of bad faith and unfair claims practices on a state-by-state basis to minimize extracontractual exposure. We have established a detailed procedure for investigating first party property claims which is designed to generate as much information as possible about a claim and an insured within the limits of the rights afforded an insurer under the policy. This approach gives the insurer the information it needs to determine how it will respond to a claim without creating extracontractual liability.

Our attorneys have considerable experience with claims involving complicated financial analysis to either determine the extent of a loss, or whether an insured may have a financial motive to submit a fraudulent claim. We know what information to request from an insured and have conducted many, many examinations under oath. Our attorneys are trained to conduct investigations thoroughly, but quickly, and report the results immediately. The result is an efficient timely decision by the insurer.

Third Party

The property investigation and preservation of critical evidence is paramount in third-party property claims. Our Property Team has experience in taking the lead in terms of site control, loss investigation and preserving evidence. We also know how to posture the cases in situations where other parties in control of a loss site have not properly preserved or investigate the circumstances of the loss.

Several of our attorneys have advanced degrees, including engineering degrees, and thus have the background to analyze and understand complex property loss claims. Causation is often an issue in property claims and our attorneys are trained to immediately assess the liability of the insured and also to determine the relative liability of other parties involved to formulate a defense strategy or for purposes of subrogation. We have worked with many different types of experts and have developed a style and methodology to make sure that outside consultants are utilized in the most efficient manner possible.

Partner Participants

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Please contact:

Karna Pruiett
Marketing Coordinator
kpruiett@tsmp.com
233 S. Wacker 22nd Floor
Chicago, IL 60606
(312) 627-4146