Search results
View Paul McVey’s profile on LinkedIn, a professional community of 1 billion members. MD at Marsh S.A. Corredores de Seguros · Experience: Marsh S.A. Corredores de Seguros · Location: New...
- Marsh S.A. Corredores de Seguros
- MD at Marsh S.A. Corredores de Seguros
- 1
Aug 26, 2015 · As the senior property claims officer for Marsh’s Claim Practice, Paul D. McVey is responsible for finding equitable resolutions for Marsh clients’ first-party property and time-element losses.
Develop a recovery plan: Gather data. Preserve vital records. Inventory equipment. Consider a property valuation. Anticipate potential areas of impact and recovery. Consider potential “claim team” members. BEFORE A LOSS OCCURS.
Aug 17, 2015 · Ellis and Paul McVey, Marsh’s U.S. Property Claims Practice leader, developed a list of the top 10 tripwires in a property policy arising as a result of a major loss.
- Business interruption – The main questions related to whether business interruption was covered and how it was calculated. “Probably the most misunderstood coverage,” said Ellis.
- Sublimits – McVey said this usually applies to flood coverage and includes such things as pure extra expense, expediting expense and time sublimits for civil authority.
- Deductible applications – Ellis said the most common questions had to do with whether a deductible applied by occurrence or location. Separate deductibles can also apply to time element loss, by unit of insurance and even by percentages.
- Service interruption – McVey said businesses should understand the scope of the coverage and understand causation and indemnity period. A service interruption must be caused by peril that is insured against.
Paul McVey is a MD at Marsh based in New York City, New York. Paul received a Bachelor of Science degree degree from University of Dayton.
About the author: Paul McVey is a managing director at Marsh. He is Marsh’s National Chief Property Claims Officer and a member of the company’s US Client Advocacy Services leadership team.
