Methods and system for insuring landscape architectural objects
First Claim
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1. A method of insuring landscape architectural objects, the method comprising:
- determining a value associated with a landscape architectural object;
determining a change in the value of the object over a period of time;
determining a risk-of-loss to the object attributable to an eligible event that can occur over the time period; and
determining a cost of an indemnity against a loss to the object from the eligible event over the time period based on the change in value and the risk-of-loss.
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Abstract
Methods and a system are disclosed for insuring landscape architectural objects. According to an exemplary embodiment, a value associated with a landscape architectural object is determined. A change in the value of the object is determined over a period of time. A risk-of-loss to the object is determined attributable to an eligible event that can occur over the time period. A cost of an indemnity against a loss to the object is determined from the eligible event over the time period based on the change in value and the risk-of-loss.
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Citations
98 Claims
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1. A method of insuring landscape architectural objects, the method comprising:
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determining a value associated with a landscape architectural object;
determining a change in the value of the object over a period of time;
determining a risk-of-loss to the object attributable to an eligible event that can occur over the time period; and
determining a cost of an indemnity against a loss to the object from the eligible event over the time period based on the change in value and the risk-of-loss. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 51, 52)
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53. A method of adjudicating a claim for a loss to a landscape architectural object, the method comprising:
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determining prior to the loss a change in a value associated with the landscape architectural object over a period of time that includes the loss;
determining whether the loss is a total or partial loss to the object; and
paying an amount for the loss based on a cost to replace the object when the loss is a total loss, and one of a cost to recondition the object and an amount of diminished value of the object when the loss is a partial loss;
wherein each of the cost to replace the object, the cost to recondition the object, and the amount of diminished value of the object is based on at least one of a material cost of the object at the time of the loss, an installation cost of the object at the time of the loss, an appraised value based on an appraisal of the object at the time of the loss, and a calculated value based on the determined change in the value of the object over the period of time. - View Dependent Claims (54, 55, 56, 57, 58, 59, 60, 61, 62, 63, 64, 65, 66, 67, 68, 69, 70, 71, 72)
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73. A system for insuring landscape architectural objects, comprising:
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a data model; and
a processor coupled to the data model, the processor including;
logic configured to determine a value associated with a landscape architectural object based on information included in the data model;
logic configured to determine a change in the value of the object over a period of time based on information included in the data model;
logic configured to determine a risk-of-loss to the object attributable to an eligible event that can occur over the time period based on information included in the data model; and
logic configured to determine a cost of an indemnity against a loss to the object from the eligible event over the time period based on the change in value and the risk-of-loss. - View Dependent Claims (74, 75, 76, 77, 78, 79, 80, 81, 82, 83, 84, 85, 86, 87, 88)
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89. A computer readable medium containing a computer program for insuring landscape architectural objects, wherein the computer program comprises executable instructions for:
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determining a value associated with a landscape architectural object;
determining a change in the value of the object over a period of time;
determining a risk-of-loss to the object attributable to an eligible event that can occur over the time period; and
determining a cost of an indemnity against a loss to the object from the eligible event over the time period based on the change in value and the risk-of-loss. - View Dependent Claims (90, 91, 92, 93, 94, 95, 96, 97, 98)
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Specification