Industry Focus: Property and Casualty Insurance Presented by: Wilson Barmeyer Sutherland, Asbill & Brennan LLP Delores Dupras Amica Mutual Insurance Company 1

UPPO Presentation Disclaimer Use of the Unclaimed Property Professionals Organization, Inc., (UPPO) name of copyrighted materials in this presentation does not constitute an endorsement by UPPO of a member, vendor, product or service. The content represents the opinion of the author and not necessarily those of UPPO. This information is not intended as legal advice and should not be used to replace the advice of legal counsel. 2

UPPO Antitrust Statement UPPO has a policy of strict compliance with federal antitrust laws. UPPO members and/or meeting attendees cannot come to understandings, make agreements, or otherwise concur on positions or activities that in any way tend to raise, lower or stabilize prices or fees. Members and/or attendees can discuss pricing models, methods, systems, and applications, as well as certain cost matters that do not lead to an agreement or consensus on prices or fees to be charged. However, there can be no discussion as to what constitutes a reasonable, fair or appropriate price or fee to charge for any service or product. Information may be presented with regard to historical pricing activities so long as such information is general in nature and does not include data on current prices or fees being charged in any trade area. Any discussion of current or future prices, fees, discounting, and other terms and conditions of sale, which may lead to an agreement or consensus on prices or fees to be charged, is strictly prohibited. Any questions about UPPO’s antitrust policy should be directed to UPPO’s Executive Director. 3

Today’s Agenda Address/brainstorm issues surrounding property and casualty insurance This is your session ask us questions Share your stories 4

Today’s Topics 1.Offers of Settlement 2.Who is the Owner? 3.Accounting Nuances 4.Food for Thought 5

Offers of Settlement Fixed and certain interest (life, health, disability) v. Offer of settlement (property/casualty) 6

Offers of Settlement – Court Decisions Fixed/Certain “Shall pay” language Fixed schedule First party claim for undisputed amount If time for negotiation has passed Offer of Settlement “In satisfaction of” “Offer” Amount not agreed To third party To attorney 7

Offers of Settlement What is the burden of proof? Uncashed checks First-Party Claim v Third- Party Claims Rebuttal by the holder 8

Who is the Owner? (Claims) Was the loss paid by another insurance company? Does the check have “extra” payees? Was subrogation processed correctly? Duplicate claim payment? 9

Who is the Owner? (Premiums) Unidentified Money Orders Mortgage Companies and Title Company payments Deceased Insured’s “but I have been paying the homeowners policy” 10

What can “we” do better? Slowdown Oh that Marking Department Current customer records Increase response to Due Diligence Letters 11

Accounting Nuances Void/Stop/Reissue (Lions, Tigers & Bears) Damage vs. Replacement Costs (Why did you wait 3 years to address this) In the Name of Customer Service 12

Food for Thought ERISA B2B – Exemptions – Deferrals 13

QUESTIONS

Thank you for joining our presentation! Wilson Barmeyer Sutherland, Asbill & Brennan LLP Delores Dupras Amica Mutual Insurance Company X24724