The amount of destruction seen in recent weeks due to multiple hurricanes, a major earthquake and aggressive wildfires is staggering.
Some of the damage will be covered by insurance, but sadly, a large portion of it will not be, leaving owners and renters to pay out of pocket, try to obtain funding from the government or other sources, or suffer major losses that will not be recouped.
|Shortage of knowledgeable adjusters
There are several issues that will make the recovery more challenging. The shortage of knowledgeable catastrophe adjusters will cause some delays in determining what is or isn't covered at many loss sites.
Even as adjusters from outside of Texas, Florida and other impacted areas arrive to lend their expertise, there will be a definite learning curve involving the structures being assessed, as well as determining what is covered under the National Flood Insurance Program or other insurance.
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Patricia L. Harman
Patricia L. Harman is the editor-in-chief of Claims magazine, a contributing editor to PropertyCasualty360.com, and chairs the annual America's Claims Event (ACE), which focuses on providing claims professionals with cutting-edge education and networking opportunities. She covers auto, property & casualty, workers' compensation, fraud, risk and cybersecurity, and is a frequent speaker at insurance industry events. Contact her at [email protected]
