What kind of damage is the company facing with this storm approaching?
7 replies (most recent on top)
@V5Rtc4w-1vqg - your post is exactly why you were let go. You have no idea what is going on within cat. The SF Cat team is a great bunch of individuals and we have enough people to staff this hurricane.
Let it go...live your life and quit being so bitter you were not good enough.
Good luck getting help from folks who were thrown out like yesterday's garbage. Be careful what you ask for.
Exposure.....I would imagine 80% of the fire reps will be indendents.......part time real estates agents...now servicing sf insureds.....as sf has ran off alot of folks...their Cat teams are depleted..and the majority of those left behind have attitudes....they arent gonna step up and go the extra mile !
To 1pam, thanks
From a pure damage standpoint we are looking at a weakening category 3 hurricane when it makes landfall. There will be widespread wind damage 50-70 miles out from the center eyewall. There is a large blocking system that will stall out the storm and while the wind will die down, the rain will fall for days along the mid-atlantic and over the southeast. This will mean a lot of flooding. Last time there was this much rain in this area, I-95 was shut down for weeks and this is a major north-south route on the east coast.
From a Company perspective, we don't handle Flood anymore so our focus will be the wind damage. Our ability to handle a large catastrophe has been compromised by the last few rounds of re-orgs. A call has gone out seeking volunteers from Proximity to travel to the affected areas. We will have to back fill our staffing needs with Independents, and many adjusters are signed up with more than one firm so all the insurance companies will be competing for the available pool of independents. Last year they sought out volunteers from our retirees for 5 month stints, this may already be in the works.
From a $ standpoint, we should have re-insurance for losses over a billion. This amount may have changed, not sure.
From a PR standpoint, the farm is very good at being visible with mobile claims offices and tents/banners, often the only visible company in an area.
To anyone in the area, keep your head down and be safe. It is going to be an interesting number of days.
We face damage to our brand and our reputation when we don’t have enough staff to properly handle the claims.
The same kind they face when any hurricane is approaching. It’s in the premium, and we have reinsurance for losses over a certain amount.