Insurers brace for business-interruption claims after hurricanes

By Suzanne Barlyn 

Companies affected by hurricanes Harvey and Irma have begun submitting claims related to business interruption, flooding and other damage. Business-interruption claims are often complex, with direct physical damage usually a condition of coverage, and can take months or years to handle, according to industry experts.

Read the entire article here: http://www.reuters.com/article/us-storm-irma-insurance-businesses/business-interrupted-hurricane-damaged-firms-dig-in-for-insurance-fight-idUSKCN1BQ0EY

Catastrophic Weather Events…..Trigger Insurance Companies to Raise Rates?

Make sure your business is proactive at insurance renewal time and don’t wait until it is too late to react to a premium increase!  If your business would like help managing your insurance renewal process please reach out to ACG to discuss a partnership with our insurance advocacy team!

Read the article here: https://www.washingtonpost.com/news/on-small-business/wp/2017/09/12/why-insurance-companies-sense-an-opportunity/?utm_term=.f5e56c060f21&wpisrc=nl_sb_smartbrief

Hurricane Harvey ravaged cars and trucks — bad for drivers, good for automakers

By James F. Peltz & David Montero

With hurricane season in full swing and the tally from Irma just beginning, Harvey has been projected to be one of the costliest disasters in U.S. history, with experts estimating damage could exceed $100 billion. Texas Gov. Greg Abbott has even suggested that damage could reach $150 billion to $180 billion.

Read the entire article here: http://www.latimes.com/business/la-fi-Harvey-Houston-cars-20170911-story.html

 

Visual evidence crucial in Harvey claims, says PCI’s Passmore

People filing property and flood insurance claims in the wake of Hurricane Harvey need to collect visual evidence, such as photographs, to assist with their claims, PCI’s Robert Passmore says. “The flood program recommends that you actually take photos of what the inside of the house looks like” and then document what is being removed from the property, he says.

Read the full story here: https://www.houstonpublicmedia.org/articles/news/2017/09/05/235297/advice-how-to-file-claims-after-harvey/

PCI’s Griffin: Harvey adds urgency for short-term NFIP extension

PCI wants a short-term extension of the National Flood Insurance Program for at least six months so the program won’t run the risk of expiring while claims related to Hurricane Harvey are being filed. “With the number of claims coming in and the damage that’s been done, the flood insurance costs may be as high as those from Sandy,” PCI’s Don Griffin said.

Read the full story here: http://www.businessinsurance.com/article/20170905/NEWS06/912315621/Harvey-may-spur-short-NFIP-reauthorization-to-avoid-claims-disruption

Insurance Company found liable for deception.

Don’t let your dealership’s staff waste valuable time getting mislead by your insurance companies interpretation of your policy.

ACG Claim Advocates can help with objective claim expertise and policy interpretation.

We would love an opportunity to discuss how our claim advocates can bring your dealership third party objectivity and expertise while saving your store time and money!

For more information please click here: http://dealers.austincg.com/dealershipclaim-advocacy/

Read the entire article here: http://www.propertycasualty360.com/2017/08/22/insurer-must-pay-275m-in-punitive-damages-for-dece