E-mail A Friend: "BANKRUPTCY PETITION AND DENIAL OF CLAIM" - Southern Loss Association, Inc.

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	2010 Board Members Mark McRorie , President Reid, Jones, McRorie & Williams John Southall , Vice President FM Global Melissa Crain - Secretary PLS Claims Miles Moody - Treasurer Westfield Group Chris Riggs - Asst Sec/Treasurer Crawford & Company Executive Board Members Janet Nash White-Hart & Associates, Inc Open Position TBD Open Position TBD David Bourneuf - Past President PLS Claims Pete Mobley (Historian) Mark Adjustment Services Howard A. Zandman, CPA – Financial Advisor Habif, Arogeti & Wynne, LLC


	E-mail this Article to a Friend BANKRUPTCY PETITION AND DENIAL OF CLAIM During the investigation of an insurance claim, claims examiners and special investigators for insurance companies generally ask insureds whether they previously filed for bankruptcy. The purpose of such inquiry is two fold: to determine whether the insured had a financial motive to falsify a claim and whether the insured had the financial means to purchase an item allegedly stolen or lost. An insured’s bankruptcy petition, however, should be reviewed closely to determine whether the insureds have omitted from the petition the very item that is the basis for the claim or misrepresented the value of the item at a substantially lower value than represented in the claim. If the insureds have omitted the item or misrepresented the item had a lower value, the insured subsequently may be prevented from recovering under the policy on the basis of judicial estoppel, in addition to the policy exclusion for fraud and concealment. Friend's Email: Separate multiple addresses with commas. Maximum 200 characters. Your Full Name: (optional) Your Email Address: These email addresses will be used to email the information on your behalf and will not be collected or used by us for any marketing purposes without your permission. Send a copy to yourself Enter a brief message to your friend: (optional) Full Information in HTMLLink Only


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