Coverage Smells 'Fishy'

To The Editor:

I greatly enjoyed Bruce Hillman's "FC&S Answer" column about the "great big Fish" sign that turned up missing. (See "The Case Of The Disappeared Sign," on April 29, page 20.) However, his analysis does not smell quite right. Although I don't want to beef about it, I think Mr. Hillman might have overlooked another issue that should also have been put on the scales when weighing the Fish's coverage.

In his scenario, the Fish–now replaced by Steak–appears to be obsolete, worthless trash. While coverage and valuation are separate issues, this seems to be a case where valuation makes the coverage issue moot. In terms of valuation, the Steaks are high, but the Fish has taken a big dive.

Eric A. Wiening
Assistant Vice President,
Ethics Counsel
American Institute for CPCU/
Insurance Institute of America
Malvern, Pa.

Reproduced from National Underwriter Property & Casualty/Risk & Benefits Management Edition, May 13, 2002. Copyright 2002 by The National Underwriter Company in the serial publication. All rights reserved.Copyright in this article as an independent work may be held by the author.