Michigan Appraisals and Standard Fire Policies

Ed Eshoo is a master of the statutory standard fire insurance policy. When I am involved with a complex issue involving statutory policy language versus issued policy language, I collegially call my Chicago-based friend for his thoughts. Three years ago, in Insurance Agent Versus Experienced Policyholder Attorney Viewpoints About Insurance Coverage Denials, I wrote:

Ed Eshoo works out of Merlin Law Group’s Chicago office and is one of the best property insurance policyholder coverage attorneys you could find. I do not think there is anybody with a national reputation as being ‘the expert’ on the 165-line Standard Fire Insurance Policy on a national, rather than state, basis. Ed is an extreme competitor, and it shows in his daughter Emily Eshoo who is a varsity basketball player at the University of Tampa.

Not to be outdone, Edward Fako wrote in a comment to that post:

After being an audience member listening to Mr. Eshoo present his views on insurance claims on multiple occasions, along with reading every one of his articles discovered and then discussing the claim attributes and nuances with him personally, I can wholeheartedly agree with the esteem and admiration you hold in regard for your colleague, Chip.

When I wrote my post yesterday afternoon, Michigan Appraisal Law Is Impacted by the Standard Fire Policy, I somehow missed an article that Eshoo wrote on the same topic, State Farm’s Appraisal Provision Violates the Standard Fire Policy. Ed’s analysis is deeper than mine and worth re-reading.

Regarding Standard Fire Insurance policies and the need for them, I want to remind readers that insurance companies were writing so many variations of insurance coverage and including so many limitations to coverage that state legislatures passed laws requiring insurers to issue a standard fire policy to protect policyholders. I posted about this and raised the issue of whether we now need a standard all-risk insurance policy in The Standard Fire Policy—Do We Need A Standard All Risk Insurance Policy.  

The examples of insurance companies, like State Farm, re-writing policies and not following long-standing ISO standard wording or wording found in the 165 standard policy leaves me with the same conclusion: State legislatures must start mandating a standard all-risk policy to protect policyholders.

Thought For The Day          

Of all possessions a friend is the most precious.

—Herodotus