Insurers Forecasting Significant Claims from Businesses from Hurricane Florence

By and Ivan Levingston | September 12, 2018

  • September 12, 2018 at 8:27 am
    PolarBeaRepeal says:
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    Insurers forecast significant claims from a hurricane?! Thanks, Capt. Obvious!

    With the current state of Nat Cat 4casting models, insurers and reinsurers should be able to model/ project specific geo zones (zips) to focus their claim adjustment activities, and refine such forecasts as the hurricane gets closer to landfall. Further, the type of adjusters to specific zip groups could be refined by sophisticated models that reflect damage potential to specific property exposures and their portfolios of properties in those zones.

    Finally, there should be more pre-landfall loss mitigation activities by insurers; e.g. emails to insureds with loss mitigation info, contact info for local shelters, contact info for claim adjusters, etc. I believe insurers are getting better at the mitigation aspect of models, but Nat Cat models should be advertised by their purveyors as a loss mitigation tool as well as a forecast tool, with such info provided directly, at no charge, to local municipalities, or through FEMA.

    • September 12, 2018 at 2:42 pm
      Agent says:
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      Wow, Polar, you have three dislikes already by the Hoaxer crowd. WaPo has already blamed this hurricane on our great President. Is there anything he isn’t blamed for?

      • September 12, 2018 at 4:41 pm
        PolarBeaRepeal says:
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        Hoaxers don’t want mitigation efforts to succeed, per my suggestions, per down votes on my post?

        Perhaps so, in order to be able to blame something that might go wrong in the wake of Florence on Donald Trump. MAEGA; Make America’s Economy Grow, Again.

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