I am fortunate to have the opportunity to speak at the national conference of the Inland Marine Underwriters Association in Dallas this week. I will share the podium with Jonathan Held of JS Held and Company. Jon is well respected as one of the leading experts in property claims valuation in America.
In our session we will consider exactly what it means to be "historic". The term is often misused and misunderstood. We will investigate the concept of certified historic restorations and federal tax credits. The group will also become acquainted with the similarities and differences in historic districts and how they impact valuation.
We will also address methods and strategies to properly value historic buildings. The attendees will learn critical issues to consider in setting realistic values. This process will assist them in creating valid claims parameters for losses incurred while covered by builder's risk policies.
I will present examples of interesting and challenging historic building restoration claims that we have managed throughout the United States. My presentation will include a project reclaiming virgin first growth heart pine to match existing flooring in a cathedral dating from the late 1700's. We will also focus attention on the use and abuse of the claims process by certain specialty consultants. This would include a claim where an expert in adobe huts was brought in to determine the exact plaster formulation in a nineteenth century church.
There is a reason that historical restoration is sometimes referred to as hysterical restoration.
We will take a tour of the good, the bad, and the ugly.
