Whether navigating complex residential, commercial or large loss claims, serving as an Appraiser or acting as an impartial Umpire in appraisal disputes, or providing strategic consulting for cybersecurity claims or large loss incidents, our seasoned team at Deno Group & Associates (DGA) ensures that each of our clients receive accurate, thorough and timely evaluations.
Appraiser Services
Our Appraisers ensure that claims are settled fairly and efficiently based on an accurate assessment of the damage and the terms of the insurance policy. Our expertise helps bridge the gap between the policyholder’s expectations and the insurer’s obligations, facilitating a smoother claims resolution process. We manage complex residential, condo, and commercial losses to help our clients reach an appraisal-based settlement. We have access to a large network of outside contractors who hold the appropriate credentials and expertise and can function as professional experts to support the appraisal process. We proudly carry the certified Insurance Appraiser professional status designations from P.L.A.N and WIND.
Inspection and Evaluation: Upon receiving a claim, we inspect the damaged property to evaluate the extent of the damage.
Estimation of Repair Costs: We estimate the cost of repairs needed to restore the damaged property to its pre-loss condition. This involves consulting with construction contractors and using software to estimate repair costs accurately.
Determination of Actual Cash Value or Replacement Cost: Depending on the policy terms, we determine the actual cash value (ACV) or replacement cost of the damaged or lost items.
Award & Settlement: We work with the opposing Appraiser to ensure a fair resolution for both parties are reached. Once the amount of the loss set and agreed upon an award is drafted and executed by both Appraisers, if the Appraisers fail to agree within a reasonable time, they shall submit their difference to a pre-determined Umpire.
Report Preparation: After completing the evaluation, we prepare a detailed report that includes the findings, photographs, repair estimates, and any other documentation supporting the assessment.
Umpire Services
The Umpire plays a critical role in resolving disputes between the insurer and the insured over the amount of a loss. We aim to facilitate a fair resolution to the insurance claim dispute without the need for litigation, which can be costly and time-consuming for both parties. We have a deep understanding of the type of damages being assessed, including knowledge of insurance law, construction costs, property values, and the specifics of the policy involved.
The Umpire plays a critical role in resolving disputes between the insurer and the insured over the amount of a loss. The use of an Umpire is typically invoked when an appraisal clause is part of an insurance policy, and both parties have appointed their appraisers, but those appraisers cannot agree on the value of a claim.
Neutral Party Selection: We serve as a neutral third party, agreed upon by both the insurer’s and the insured’s Appraisers. If the Appraisers cannot agree on an Umpire, a court may appoint one. We are an impartial 3rd party expert and have no stake in the outcome.
Review of Dispute: We carefully review the points of disagreement between the two Appraisers. This includes examining the damage assessments, estimates of repair costs, and any other relevant documents or evidence presented by both parties.
Inspection and Analysis: Depending on the nature of the claim and the points of contention, we may conduct our own inspection of the damaged property, review additional documentation, or consult with other experts to gather more information necessary for making a decision.
Decision Making: Our primary responsibility is to make a fair and impartial decision on the value of the claim based on the evidence and arguments presented by both sides. This decision is usually binding on both the insurer and the insured, meaning it finalizes the claim’s value and is used to settle the claim.
Issuance of an Award: After making a decision, we issue an award, a written document detailing the decision on the value of the claim. This award is typically required to be signed by the Umpire and at least one of the Appraisers.
Cybersecurity Response Handling & Consulting
We blend our technical expertise in cybersecurity with our extensive experienced in insurance claims handling, loss prevention, asset protection, legal compliance, and client services. We provide claim management and consulting to help minimize the risk and impact of cybersecurity threats for our clients.
Assessment of Cybersecurity Incidents: When a cybersecurity incident occurs, such as a data breach, ransomware attack, or other forms of cybercrime, we assess the severity and scope of the incident. This involves understanding the technical details of how the breach occurred, what data or systems were affected, and the potential impact on the insured entity.
Claims Management: We manage the claims process from the initial notification of a loss through to resolution. This involves verifying coverage under the policy, assessing the validity of the claim, and determining the appropriate payout based on the policy terms and the extent of the loss.
Expert Guidance: We provide expert advice on mitigating the effects of cybersecurity incidents, including steps to secure systems, prevent future breaches, and comply with legal and regulatory requirements. This may involve coordinating with cybersecurity experts and forensics teams to analyze the breach and recommend protective measures.
Liaison Role: We act as a liaison between the insured, the insurer, and third-party service providers involved in resolving the incident. This can include legal teams, cybersecurity firms, and public relations agencies.
Policy Development and Risk Assessment: Beyond managing claims, we support insurance carrier underwriters with performing site surveys, physical security audits, security posture assessments, identifying risks and defining coverage terms. We analyze trends in cyber threats to inform underwriting processes and risk pricing recommendations.
Training and Education: We provide training on best practices for cybersecurity risk management and incident response.
Regulatory and Compliance Advisory: Given the complex legal landscape around data protection and privacy, we work with legal to advise on compliance with laws and regulations, helping both the insurer and the insured navigate these requirements post-incident.
Large Loss Consulting
Our seasoned Large Loss Consultants play a critical role in managing and resolving claims involving significant damage or high value.
Assessment and Evaluation: We conduct a thorough assessment of the damage. This involves visiting the site of the incident, inspecting the extent of the damage, and determining the impact on the property’s value. We have the expertise to understand the nuances of large-scale damage and its long-term implications.
Coordination with Experts: We coordinate with a range of experts, including engineers, architects, construction professionals, building consultants and legal advisors to ensure that every aspect of the loss is accurately evaluated, from structural damages to environmental concerns, and legal liabilities.
Claim Strategy Development: We develop a strategy for handling the claim. This includes determining the steps needed to mitigate further losses, estimating repair or replacement costs, and identifying any potential issues that could complicate the claim process, such as code upgrades or historical preservation requirements.
Reporting and Documentation: Throughout the claim process, our Large Loss Consultants maintain detailed documentation of findings, decisions, and communications. This documentation is crucial for supporting the claim decision, facilitating a transparent settlement process, and serving as a record in case of disputes or audits.
Liaison Role: We often act as the primary point of contact between the insurance company and the policyholder, ensuring that both parties are informed and engaged throughout the claim process. We may also coordinate with local authorities, regulatory bodies, and other stakeholders involved in the claim.
Advisory Role: Beyond just handling claims, our Large Loss Consultants may advise insurance companies on risk assessment, policy adjustments, and improvements in claims handling procedures, especially in light of emerging trends and challenges in large loss scenarios.
*Please be advised that Deno Group & Associates is providing consulting services and not acting as a public adjuster. Any advice, recommendations, or assistance provided is based on our expertise and experience, and should not be construed as legal, financial, or professional advice. Clients are encouraged to consult with appropriate professionals for specific guidance tailored to their individual circumstances.