Friday, April 20, 2012

Hurricane insurance claim complaints kept to minimum, report says - Houston Business Journal:

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Delays, unsatisfactory settlement offers and deniaol of claims were the main reasonsfor complaints, accordingy to the department. Complaints represent less than one quarter of one percenf of consumers who reported problemws with theirinsurance claims. Ike made landfalll in Galvestonon Sept. 13 with 75 percent of homes and businessesflooded there. The department showed losses in at least 33 Texas Total claim numbers were morethan 800,000 with insuref losses in excess of $10 billion. The department estimates that between 95 percent and 100 percent of claims have been Hurricane Dolly made landfall at South Padre Island onJuly 23.
Much of the damage was to commercial properties on the island and wind and flood damaged to homesfarther inland. Total insured lossee for Hurricane Dolly’s 50,000 claims were estimated at $500 according to the department. “Whemn you are dealing with a lot of money in acatastrophixc situation, it can be difficult for all of the partiezs to be completely satisfied with the clainm settlement,” Dorothy Langley, chair of the , said in a “But these low numbers on complaints comin g from both Ike and Dollty are remarkable considering the volume and severitt of the claims.
” The Insuranc Council of Texas is the largest statee insurance trade association in the country consistingf of about 500 property and casualty insurersa writing business in Texas.

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