The growing cost of hurricane season
Posted: January 17, 2018
The growing cost of hurricane seasonThe 2017 hurricane season was the costliest season in recorded history, with damages totaling upwards of 292 billion dollars. In comparison, 2005’s Hurricane Katrina which wreaked havoc upon New Orleans and the surrounding area brought about damages in the 159 billion range. With hundreds of thousands of Americans displaced from their home, it was an incredibly busy year for the insurance industry. Ten consecutive hurricanes...
The future of property claim handling
Posted: August 11, 2017
The future of property claim handlingThe home insurance industry is rapidly changing. New efforts toward damage prevention are becoming more and more important to both adjusters and policyholders. Strengthening homes minimizes the potential for damage and is the only way to decrease the loss of property and life. In 2015 the federal government introduced the idea of the “Disaster Savings Account.” While this bill has stagnated, state governments, communities, and...
The economic impact on temporary housing claims
Posted: September 23, 2009
The economic impact on temporary housing claimsLast year at this time did you expect the major changes on Wall Street or the massive intervention in the markets by the federal government? Everyone knows someone who has been affected, and many are blaming careless risk-taking and poor lending practices in the home mortgage market. When mortgages became delinquent or went into foreclosure, huge exposures and “toxic assets” resulted. The effects of the housing crisis...
Winning the identity-theft war with safeguards built into ALE
Posted: April 1, 2008
Winning the identity-theft war with safeguards built into ALEThe very last thing any displaced family in the Gulf after Hurricane Katrina, or in Kansas after a tornado, or in Florida after a natural catastrophe needs to hear is, “I’m sorry, now your ID has also been compromised.” And while many in the insurance industry, including its service providers, dedicate themselves to making a difference when their customers need it most, another less predictable...