Course Description

Losses to Specialized Equipment

The course, "Losses to Specialized Equipment," is designed to familiarize adjusters and litigators with the challenges of specialized equipment losses and how to deal with those challenges.  The module is presented by a seasoned adjuster, Pat Jeremy, and a professional engineer, Ron Munson.

In this two-hour course, the instructors begin by describing the team of professionals that can be assembled to deal with the hurdles arising from specialized equipment losses.  Next, Mr. Munson and Mr. Jeremy describe the engineering options regarding repair and replacement.  They also review economic and practical considerations necessary to help the insured and insurer make the best decisions for both the short and long-term life of the equipment.

After completing the course, the attendee will be able to describe what constitutes specialized equipment; list the professionals that make a good team to handle losses to specialized equipment; discuss options available for replacing specialized equipment; explain the pros of cons of various repair vendors; describe the potential pitfalls associated with reverse engineering; describe economic considerations that are important in evaluating repair and replacement options; and enumerate good practices that can be useful when encountering these types of large losses.

The course is designed for practitioners and insurance professionals working in the area of insurance coverage disputes and litigation.  Professionals in both the liability and property arena will find this module beneficial.