On Subrogation

This week, join us as we revisit our episode on What is Subrogation? for a refresher! Original Air Date: October 30, 2018 Do your friends and family wonder what it is you do all day? Or, is subrogation just a small or new part of your work and you're wondering what you've gotten yourself into? Have you stumbled into this podcast by accident and wonder what it's all about? Well, this is the episode for you! Join Rebecca and Steve as they get into the backstory of subrogation (and some of their own).

The standard calculation of value for property damage is usually either the fair market value before the loss less the fair market value after the loss, OR the cost to repair the property. But what happens when the repairs do not or cannot bring the property back to its pre-loss condition? You, or more specifically, your insured, might have a claim for diminution in value. Listen in to this week's episode as Rebecca and Steve discuss the different types of diminution in value claims, when they can be brought against a carrier or tortfeasor, what standards of proof apply, and how court's calculate those damages. Do cars really lose value just by being involved in car accidents? And why should subrogated carriers and their attorneys care about these claims if they are owned solely by the insured? Listen in to find out.

We are starting something new on our podcast - by looking back at our catalogue and re-releasing our earlier episodes for a refresher on these concepts. Don't worry, every other episode will still be a brand new one, but in between, we'll release these refreshers. This week, we're going all the way back to the very beginning, to our very first episode called, "Comparative v. Contributory Negligence." We hope this helps provide a refresher, and that you'll look forward to our completely new episode in two weeks! Original Airdate: 10/16/2018 How does the type of negligence recognized in your state affect the outcome of your subrogation claim? If you are in a comparative negligence jurisdiction, will your claim be barred, or merely reduced? What even is contributory negligence? Join Rebecca and Steve as they work their way through these different negligence types, and explain how the jurisdiction's treatment of negligence can impact your claim. Click here for the referenced additional information.

Sometimes, your insured's damaged items have no traditional market value at all, but are valuable based on their use: things like records and… power poles? What is the value of destroyed records and damaged power poles, and what is the useful life of an electrical pole, anyhow? We've all wondered that. In today's episode, Steve and Rebecca answer these questions and more as they discuss service value as a measure of damages. From plain old replacement value to complex considerations of depreciation, installation, and average useful life, find out how courts treat these cases arising from the "astonishing number of poles which find themselves in the path of errant vehicles."