Marshall Swift / Boeckh have similar replacement cost data, but it is much more refined [reconstruction] data.
Full / partial structural component loss reconstruction data, established from daily, and post catastrophe, loss claim markets, may give a clearer picture of future liability obligations for insurers, and adjusters.
Market conduct examinations can become more accurate, and revealing, by such loss value data mining…
How do actual reconstruction / replacement loss value components, established at an agents desk, compare to reconstruction / replacement claim loss value components presented to homeowner claimants
\”Replacement costs, often calculated using outdated square- foot or unit-count methods, are based on prices for labor, materials, overhead, profit and fees that are in effect prior to the loss.\”
__________
Reconstruction costs contain the same base (labor, materials, overhead, profit and fees) construction contractor business costs, plus mobility overhead costs commonly encountered in reconstruction projects / markets.
Premiums can reflect those anticipated replacement / reconstruction business values.
Insured loss claim estimates should reflect those anticipated replacement / reconstruction claim loss values.
We have updated our privacy policy to be more clear and meet the new requirements of the GDPR. By continuing to use our site, you accept our revised Privacy Policy.
4-15-2006
Marshall Swift / Boeckh have similar replacement cost data, but it is much more refined [reconstruction] data.
Full / partial structural component loss reconstruction data, established from daily, and post catastrophe, loss claim markets, may give a clearer picture of future liability obligations for insurers, and adjusters.
Market conduct examinations can become more accurate, and revealing, by such loss value data mining…
How do actual reconstruction / replacement loss value components, established at an agents desk, compare to reconstruction / replacement claim loss value components presented to homeowner claimants
http://www.msbinfo.com/3_dyn_features.asp?prod_id=50
Part of the article states;
\”Replacement costs, often calculated using outdated square- foot or unit-count methods, are based on prices for labor, materials, overhead, profit and fees that are in effect prior to the loss.\”
__________
Reconstruction costs contain the same base (labor, materials, overhead, profit and fees) construction contractor business costs, plus mobility overhead costs commonly encountered in reconstruction projects / markets.
Premiums can reflect those anticipated replacement / reconstruction business values.
Insured loss claim estimates should reflect those anticipated replacement / reconstruction claim loss values.
rogerpoegc@yahoo.com