Search
 

Contents Claims Solved: The Case of the Merry Makers Toy

This real-life case provides a great example of how having the right information can quickly clarify the true value of a unique collectible.

By Tom Kirkpatrick | Updated on April 25, 2010
Is the Estimated Value of this Toy $30,000 or $2,000?When it comes to handling contents claims, adjusters meet all types of challenges when assessing valuation, especially with fine works of art or unique collectibles. Without the proper paperwork and authentication, adjusters can find themselves in a tough spot, and the last thing adjusters, carriers, or the insured want is to get into a “he said/she said” argument that could hold up a claim settlement for weeks.

The Case of the Merry Makers Toy provides a great example of how having the right information can quickly clarify the true value of a unique collectible and save everyone a lot of time and unnecessary headaches.

Case Background

The insured issued a claim for a colorful tin wind-up toy believed to be from the 1930s. This toy appeared to be a Mickey Mouse representation — a four-mouse band made from lithographed tin. The insured was claiming $30,000 as the value of this vintage toy. The insurance carrier outsourced the research on the replacement value of the collectible to a contents claims firm with a team of experts schooled in assessing the valuation of fine arts and collectibles.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.