Windstorm insurance may not be your only or best option

An analysis of the damage including the causes is a necessary starting point.

By John A. Moore | October 06, 2017 at 01:30 AM

As commercial and residential property owners in South Florida assess their damage after Hurricane Irma they should be cognizant that a claim against their own windstorm insurance may not be the only or best option.

This is true in part because making a claim against one's own insurer will inevitably require the payment of a deductible and may result in future higher premiums. Accordingly, consideration should be given as to whether other sources of recovery may exist to cover the damages.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • 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.
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.

By Steve Hallo | May 16, 2024

California has seen four of the most destructive wildfires in U.S. history, the most of any state.

The 10 most devastating fires in U.S. history

By Robb Lanham | May 16, 2024

Risk mitigation is no longer the cherry on top but the key ingredient to securing insurance.

The ROI of risk mitigation just got stronger

By PC360 Staff Writer | May 16, 2024

Farmers Insurance will resume accepting new commercial multi-peril applications for auto service and repair, habitational, manufacturing, real estate and wholesale distribution policies in California on Aug. 1, 2024.

Farmers to resume writing some business multi-peril lines in California
Breaking the Check Barrier: Embracing Digital Payments in P&C Insurance link

White Paper

Sponsored by CCC Intelligent Solutions

Discover how to break free from traditional check payments and embrace the digital revolution in the property and casualty (P&C) insurance industry.

Commercial Property Preparedness: Bracing for Changing Risks link

eBook

Sponsored by OneShield

Commercial insurers have faced many challenges in 2023 due to a record number of billion-dollar weather events, inflation and a tightening reinsurance market. The increasing focus on individual risk levels in the reinsurance market requires insurers to embrace new technology, data, and tools to improve loss ratios and customer satisfaction. This eBook explores solutions to navigate these challenges and enhance risk management capabilities.

7 Proven Strategies for Implementing a Workers' Comp Cloud Platform link

White Paper

Sponsored by Origami Risk

Explore common pitfalls in core insurance transformations and how to avoid them. Discover comprehensive strategies and best practices to successfully plan and execute a cloud implementation in this comprehensive white paper.