Building Owners Loss Assistance Program Safeguards Properties And Their Owners Through Disaster

When Hurricane Wilma ripped through South Florida causing an estimated reported $16.8

billion in damage, building owners thought they had their share covered with property insurance.

For Paul J. Del Vecchios client, a condominium owner, this was not the case.

Del Vecchio, principal of Paul J. Del Vecchio Construction Consultants, Inc., provided litigation support as a 3 and a half year battle ensued between his client and the insurance provider. The 20-story building experienced substantial storm damage with shattered floor-to-ceiling windows, a thrashed air conditioning system, an obstructed pool and significant interior ruin resulting in multi-million dollar repairs. Disputed claims made by the insurance company had forced Del Vecchios client to finance repair costs until they were resolved in early 2009.

The resulting case led Del Vecchio and his team to design a program founded in protecting property owners when filing insurance claims due to a loss.

Today, the Building Owners Loss Assistance Program (BOLAP) provides consistent documentation of a property to institutional, commercial and multi-family building owners should a fire, flood, hurricane or other associated loss occur. Written reports, video records, and photographs are taken, and each year, changes in the building are noted and stored in a comprehensive archive, made available off-site to building owners and their representing attorneys for a filed claim.

Should a loss occur, Del Vecchio says, An accurate and indisputable picture of the property prior to a loss is already made available. He adds, This expedites the prosecution of an insurance claim, eliminates disputed items and provides an accurate cost to remediate.

The programs initial phase includes a condition assessment where property deficiencies and recommendations to safe-up the building are made, altogether ensuring that the property is and remains at an optimal state.

by: Marisha C Kelly

POST COMMENT

First Time Homebuyers Do You Know What A Lender Looks For In A Loan Application? Exclusive Office Furniture Home Investors-do You Wish To Sell Your Property? They Might Be Your Answer See The Splendor And Beauty Of The Great Outdoors French Door Refrigerators Fine In Design Keep Your Carpets Tidy with Carpet Cleaning Atlanta Services I Was Homeless So I Found A Property To Rent Reading Increased Cholesterol And Er+ Cancer Are Curable Now Still Wondering How To Find The Owner Of A Cell Phone Number? Its Simple! Spray Tan at Home – Tips on starting Self-tanning Door To Door Loans-Obtain Desired Money Without Any Hassle Office furniture that gives absolute class and comfort Steps to Organize Your First Home Office in a Good Way