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News & Commentary
Content tagged with Claims posted in November 2012
Looks Like the Models Were Right After All
Commentary  |  11/30/2012  | 
Data indicates that the area flooded by Superstorm Sandy was well within expected parameters.
Colombia to Offer Climate Change Insurance to Coffee Farmers
News  |  11/29/2012  | 
Colombia is launching insurance to protect coffee plantations hit by climate change, which has damaged output in the world's top producer of high quality Arabica beans in recent years, officials said on Wednesday.

Allstate Expects More than $1 Billion in Oct. Losses Thanks to Sandy
News  |  11/28/2012  | 
Allstate Corp expects to report October disaster losses of $1.08 billion, mostly due to superstorm Sandy, the home and auto insurer said on Wednesday.

White House Expected to Seek Billions in Sandy Aid
News  |  11/28/2012  | 
The White House is expected in the coming days to send Congress a multi-billion dollar request to fund recovery from Superstorm Sandy, which caused an estimated $71 billion in damages in New York and New Jersey.

Weathering the Storm: Hurricane Sandy Validates Philadelphia Insurance Companies' Business Continuity Plan
News  |  11/15/2012  | 
After a strong performance during Hurricane Irene in 2011, PHLY made further improvements to ensure that Hurricane Sandy caused no interruption of normal business, relates CIO Alfred Goxhaj.
Assessing the NFIP in Sandy’s Wake: Q&A with Rep. Earl Blumenauer
News  |  11/15/2012  | 
If Hurricane Katrina starkly exposed the fiscal inadequacy of the National Flood Insurance Program, Hurricane Sandy has only re-emphasized the need to maintain the momentum of reform in progress. Oregon Congressman Earl Blumenauer, a champion for reform of the NFIP, shared thoughts with I&T.
Karen Clark & Co. Surveys Sandy's Damage
Commentary  |  11/13/2012  | 
Key observations from the post-disaster damage survey include wind damage well inland, mature shallow-rooted trees falling and the lack of risk mitigation features, such as engineered storm shutters.
Sandy's Aftermath: "Disaster Tourists" Add Insult to Injury
Commentary  |  11/12/2012  | 
If one wants to see what's happening and one doesn't have an occupational reason to be there — e.g., a reporter, relief worker or claims adjuster — then go there to help. Bring supplies, offer labor, but don't go there just to consume someone else's pain.
Impact of 2012 Election on Insurance: More of the Same?
Commentary  |  11/9/2012  | 
Regardless of the implications for the insurance industry of the reelection of Barack Obama as U.S. president, insurers are still facing an increasingly complex and tech-driven competitive environment.
New York Cafes, Shops Slammed by Sandy Struggle Back to Business
News  |  11/9/2012  | 
After filling dumpsters with ruined inventory, many owners of New York City's shops and restaurants find themselves waiting on emergency loans and insurance companies or trying to personally finance their recovery from Superstorm Sandy.

Insurers Across Lines of Business Focus on Continuity Post-Sandy
News  |  11/7/2012  | 
Current and former Elite 8s were forthcoming about business continuity plans on several I&T Summit panels.
Allstate Won't Apply Hurricane Deductibles for Sandy Victims
News  |  11/6/2012  | 
Allstate and Allstate New Jersey say tropical cyclone and hurricane deductibles on property policies will not be applied for Northeast and several Mid-Atlantic states affected by last week's superstorm.
Sandy's Aftermath: Dispatches from Hoboken, New Jersey
Commentary  |  11/5/2012  | 
Sandy's Aftermath: ispatches from Hoboken, New Jersey; reflections on community, loss, and the possible role of the insurance and banking industries.
Northeast Insurers Mop Up After Sandy, Face Formidable Claims Challenge
News  |  11/5/2012  | 
Carriers that have navigated the initial business continuity challenges of Hurricane Sandy are ramping up to deal with increased claims volume as power is restored to policyholders.
Sandy's Lesson: There's No Substitute for Real Data
Commentary  |  11/2/2012  | 
All insurers -- not just P&C -- should learn from Hurricane Sandy that you can always better understand the risks to which you are exposed.
Sandy Illustrates Need for Better Claims Mobility: Aite's Applebaum
News  |  11/2/2012  | 
Claims technologists reported dissatisfaction with mobile capabilities before Sandy – and the catastrophe will only highlight the need, says Aite Group's Stephen Applebaum.
RMS Says 'Too Soon' to Estimate Sandy Losses
News  |  11/2/2012  | 
The damage from the powerful storm Sandy is so widespread that it is too soon to estimate losses, a leading disaster assessment firm, RMS, said on Friday, in contrast to rivals projecting possible insured losses of $7 billion to $20 billion.

Friday Sandy Update: Homeowners Could Still Face Hurricane Deductibles
News  |  11/2/2012  | 
A Reuters report says courts could ultimately have the final say on what policyholders pay in the wake of Hurricane Sandy.
U.S. East Coast Staggers to Recover from Monster Storm
News  |  11/1/2012  | 
Rescuers searched flooded streets and swamped houses for survivors, drivers lined up for hours to get scarce gasoline and millions remained without power on Thursday as New York City and nearby coastal towns struggled to recover from one of the biggest storms ever to hit the United States.

Sandy’s Lessons Emerging for P&C Industry
News  |  11/1/2012  | 
Property/casualty insurers may find themselves reconsidering their business continuity plans and reevaluating catastrophe models and claims response strategies, say industry analysts.
Eye on Sandy: Loss Estimates Double, N.Y. Exempt from Hurricane Deductibles
News  |  11/1/2012  | 
The New York State Department of Financial Services told insurers that deductibles should not be triggered because Sandy did not sustain hurricane-force winds when it hit the city.

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