NU Online News Service, Sept. 1, 12:57 p.m. EST
Hurricane Irene will be a “body-blow” to the specialty market but the claims it generates is “nothing major compared to available capital,” says David Pagoumian, president of Napco.
“I know my phone has been burning up with calls [with] claims coming in. Adjusters are out there,” Pagoumian says from his Iselin, N.J.-based firm that specializes in property-catastrophe insurance coverage. “But there does not seem to be any horror stories. My feeling is that everyone will lick their wounds and move on.”
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