I just filled out the claim form so should be getting reimbursement for my loss shortly. Here's the skinny. Please read all before coming to a conclusion on the actions of the Insurance Company. I was dealing with an independent Claims Adjuster after turning in my claim. As a former personal injury defense lawyer with considerable experience with Claims Adjusters (working on behalf of the Insurer) I believe the initial reaction rejecting the claim was by the Adjuster. After reporting the loss, I received a post from the adjuster saying that the company denied the claim because coverage was excluded under a clause that provided that the company was not covering 'dealer inventory." I responded:
"(The company exclusion # 6” provides in part “We do not pay for loss or damage to ‘Dealer stock’, however, incidental sale or trade of * * *duplicates from your personal collection is not ‘Dealer stock.’” My sales in the actual sum of $1,214 were from my personal collection. I am a collector who purchases and trades chips and traded chips while at the convention."

The next response was to say that even though Exclusion # 6 did not apply, the claim was being denied because of another exclusion that in substance said coverage was excluded if the chips had been entrusted to another.

I pointed out that this would exclude any materials delivered for shipment to any carrier's agent and if so that was contrary to the basic purpose of the policy--to provide coverage at home, in transit, or abroad. I then told the adjuster I was turning the matter over to my attorney. Before the attorney could begin working on the claim, the adjuster advised that the claim would be paid. However, I was then warned that the policy in the future would not cover me at the Club Convention because by taking a seller's table, I would be considered a dealer...period!

My experience with adjusters plus something the adjuster said to me while explaining the reason why the "Company" would pay the claim, leads me to conclude that while the adjuster and not the company determined to deny the claim.

In any my loss has been covered. My only concern is how to deal with the insurance company next year--I'll probably not ship so many chips--just bring my best duplicates (ivory & C&S) and carry them with me.