2016 | Ashford Properties

Five of Ashford Properties complexes were affected by this widespread storm in the Houston area and their carrier was asked to inspect them in the weeks following the storm. Lloyds of London representatives determined that the storm caused no appreciable damage to the properties.

Their assessments included executive general adjusters, independent building consultant forensic engineers sparing no expense to support their findings that the claim was below the deductible and no claim payment was warranted. This was a unique case as Lloyds had recently offered their policy in question which did not offer the usual remedy of “The Appraisal Process” that is found in virtually every first party property insurance policy available. They instead substituted the Appraisal remedy with their own “Arbitration Clause” which has stipulations in it that completely favor the insurance carrier position for a favorable outcome.

In spite of “lopsided self serving” arbitration clause [which, by the way, comes as the only change in the policy offering with a lower premium] Balance Adjusters were able to navigate through the arbitration clause playing by Lloyd’s rules and secure a 3.5 million dollar settlement for this client.