| Author |
Message |
mark salmon
Registered User
Username: Olderthendirt
Post Number: 148
Registered: 12-2000
| | Posted on Friday, March 29, 2002 - 9:09 pm: | |
Remember one thing about a five day hurricane forcast, it is barely more acurate then crystal ball, taking action on it is a waste of time, but it is a good alert, maybe the vendors can have a pre-standy list. We all know that when 2000 adjusters are called during hurricane season, the cumlative total reaching the companies is more like 10000. All conditions are ripe for a very active hurricane season (forget en nino this year) and we can all expect lot's of calls. Nows a good time to make sure your on everybodies list, later we can all brag about how many standby's we had. Mold in the crawlspace is worth more the 2 hurricanes five days out. |
Jim Docherty
Registered User
Username: Jim_docherty
Post Number: 1
Registered: 3-2002
| | Posted on Friday, March 29, 2002 - 1:30 pm: | |
John, I've never worked for you so I don't know your company's policy so bear with me, but don't you think it should be the responsibility of the vendor to vet these concerns and make sure if the situation regarding lack of files is an issue then someone other than the low man on the totem pole ( adjuster) should bear the financial burden of such an occurrence?
Eberl's has a deal with Safeco that guarantees 75 claims, albeit at minimum schedule,which at least guarantees no financial loss on the adjuster's behalf. Similar deals should be the norm industry wide. Also. Thousands of licensed, full time, catastrophe adjusters? Possibly thousands of wanna be cat adjusters. |
John A. Postava
Registered User
Username: Johnp
Post Number: 24
Registered: 12-2000
| | Posted on Friday, March 29, 2002 - 10:44 am: | |
With the multitude of new CAT vendors inundating the catastrophe market, vendors have to call their adjusters as early as possible.
During the last few hurricane seasons I have even had calls from some of these newby vendors as soon as a storm is given and number or a name. How they got my name on a list I'll never know!
Le't face facts, every cat vendor claims to have an adjuster roster of 300, 400, 1000 adjusters (SIMSOL Insurance Services has 1663 names on our list!). With only several thousand licenced fulltime cat adjusters in the U.S., the same 300, 400 or even 1663 appear on every vendor's list!
From the vendors perspective, it is not the number of adjusters you can get to a storm's landfall location. It's not even how soon you can get them there whether it's 3 days, 5 days or a week ahead of time. The most troubling issue we have to deal with is getting accurate loss estimates from our carriers and clients. Nothing displeases me more than having a client tell me he or she expects 1,000 claims, order 20 adjusters because no adjuster is to be assigned more than 50 claims in the inital download and then only get 250 claims during the first week after the storm. Adjusters are sent home. Mad as the day is long. And you, the cat company, look like an idiot.
Even with our 20 years in the cat business it still happens from time to time. No one is really to blame - the claims manager is making their best guess and so is the cat company. CAT modeling is getting better but still years away from being totally accurate 100% of the time.
Maybe we can get NOAA to work on estimating the number of damaged structures on a per carrier basis after it figures out where the storm is going? Dr. Gray, where are you when we need you the most? |
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