Because large-scale losses often create a shortage of suitable lodging in neighboring areas, it is imperative for insurers to partner with a 24/7 housing company capable of quickly securing temporary housing during a loss.
While many of the Joplin, Mo. tornado survivors had insurance, it could be months, if not years, before they can rebuild. FEMA said Monday it will consider bringing in trailers, as it did for New Orleans after Hurricane Katrina, if enough homes are not available.
A recent report from RealtyTrac indicated that one in every 452 U.S. housing units received a foreclosure filing in October, which translates into a 25 percent increase over Oct. 2007.
During his presidency, Bill Clinton once said, "The White House: I don't know whether it's the finest public housing in America or the crown jewel of the prison system."
The recent conflagrations and subsequent damage in Southern California showed that natural catastrophes come in all different shapes, sizes, and elements.
At times, temporary housing arrangements for homeowners' claims can leave many adjusters wondering if they could have found a better solution for their policyholders' additional living expense needs.