Hurricane Ian is producing all kinds of flood claim issues and conflicts with wind related water damage. National Flood seems to be responding well in some cases but others are frustrated and confused. We just received a $100K advance for one of our clients and we’ve seen some issuing $15K advance for contents and others $30K for buildings but with mortgage company names included.   We believe National Flood will waive the Proof of Loss requirement so look for an extension to the time frame. Also be very patient see what the City of Cape Coral is saying about homes flooded and built before 1981.
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Here is what we are seeing and advice on how property owners can handle and avoid potential problems with their flood and wind insurance claims.  As tremendous losses continue to mount, many recovering from Hurricane Ian are realizing their insurance companies are not paying policy limits for flood and wind claims, as reported by the Cape Coral Breeze in an article on October 14, 2022. Officials told a crowd of several dozen to stay persistent in working with National Flood insurance companies on getting reimbursement and compensation for work to repair homes, while other owners we have spoken to have already received denial letters. 
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A recent open letter from the National Association of Public Insurance Adjusters (NAPIA) stated: "Public insurance adjusters are experts in the claims adjustment process and are, along with attorneys, the only “licensed” profession that can help consumers by preparing, filing, and adjusting insurance claims. It is important to note that policyholders have the right to hire their own adjuster to assist them with the preparation of their claim.” In Florida, there are currently over 2,700 licensed and bonded Public Adjusters listed on the Department of Financial Services license search website. Not only are public adjusters already highly regulated by the state, but the national (NAPIA) and state (FAPIA) industry associations impose a high ethical standard on members. During Hurricane Michael and other storms, public adjusters were there to help policyholders when their insurance companies did not have the resources to respond in a timely manner. 
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Hurricane Ian is going to be a long hard insurance claim tragedy for Florida homeowners and businesses alike given the state of the insurance industry. Here’s what’s next for policyholder insurance claims, the adjustment process, and how industry consultants can help bring everyone together.   

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Glad to contribute to this article and educate our community about Hurricane Ian insurance claims. Thank you reporter, Christopher Spata and Tampa Bay Times for helping property owners.

https://www.tampabay.com/hurricane/2022/09/27/what-do-if-hurricane-ian-damages-your-home/

 
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We pay good money to insure our property, while hoping never to have to file claim. When disaster strikes you expect your insurance company to have your back. In a perfect world, your insurance carrier will send out their field adjuster following your notification of a loss. The adjuster will thoroughly inspect and properly value your damage and a check will be forthcoming in a reasonable amount of time. In our 38-years of practicing public adjusting, with storms like Hurricane Ian, we unfortunately see too many cases where this is not the case.

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ISV, LLC is a prominent property development company based in Windermere, Florida with a 9-year growing real estate portfolio.  Sadly, ISV’s owner learned that two of his residential multi-family dwelling structures in Sanford, Florida suffered extensive fire damage on May 11, 2021. Following a cause and origin investigation, fire officials were unable to determine the area of origin.  Despite ISV’s timely claim reporting and C&O Report submission, the claim adjuster assigned by ISV’s insurance company notified the claim was still being investigated by the carrier, informing: “the process could very well take several months to finalize.”

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WIND held its annual 2022 conference at the Lowes Royal Pacific Resort at Universal Orlando at the end of January.  I have to say that I was a little hesitant attending this conference as it is a multi-day event held in a venue which is a closed environment inside of a very large resort. Based on past year’s attendance I would have expected well over 1000 insurance professionals, experts and vendors showing up to network, learn best practices and refresh their knowledge. To my surprise despite the virus threat, over 1000 people did in fact register and that didn’t include late walk ins, who decided they did not want to be behind the learning curve.  For me, besides seeing old friends and meeting new people from various disciplines, the highlight of the conference was the keynote speaker presentation.

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Happy to help educate policyholders in the aftermath of Hurricane Ida.

 

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Here’s a good recent article to share that can help those impacted by Hurricane Ida work through their insurance claims. If you have questions or need assistance with a large loss from Hurricane Ida, we stand ready to help.

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