DUX’s Post

As #HurricaneHelene remains on track to intensify and strike Florida, likely in the central Big Bend area, Gallagher Re today say that, based on its current track, insured losses could range from $3 billion to $6 billion. Insurance Information Institute notes that, because Helene is expected to maintain hurricane-force winds long after landfall, hurricane warnings are in effect as far north as Macon, Georgia. Developing story -- check back for updates: https://bit.ly/3zzePo0 #Insurance #ClaimsManagement #LitigationManagement #InsuranceDefense #CLMMagazine

Florida’s Big Bend region on the northern Gulf Coast is bracing for yet another hurricane, the third in the last 13 months. https://lnkd.in/e_u3Cs9W Wind speeds for what could soon be Hurricane Helene are forecast to reach up to 115 mph, higher than Hurricane Debby, a Category 1 storm that made landfall in the area on Aug. 5, and approaching the winds of Hurricane Idalia, which struck the region in late August 2023. If there’s a silver lining for insurers, it’s that the corner of the state is less populated than other parts of Florida, limiting claims to what could be a manageable number. The property insurers with the most residential policies in the area include the state-created Citizens Property Insurance Corp. and American Bankers Insurance Co. of Florida. https://lnkd.in/e_u3Cs9W

🔥3440% Increase: From Initial Offer to Final Hurricane Claim Settlement On September 28th, 2022, Hurricane Ian made its devastating landfall in Florida. The aftermath left many homes in ruins, including that of one of our clients, who faced a challenging recovery process. Initially, the insurance company tried to minimize their payout, offering just $11,694, assuming it would be enough to cover the damages. Undeterred, UCS stepped in and, within a year, successfully recovered $414,000 for the client, fully restoring their home to its pre-hurricane condition and ensuring they received the full entitlement owed by the insurance company. This case underscores the importance of having an experienced public adjuster by your side during storms. Don't rely solely on your insurance company in times of crisis; their goals may not align with yours. Let UCS assist you in navigating the recovery process after a hurricane. . . . #UCSPA #PublicAdjuster #PublicAdjusters #InsuranceClaim #InsuranceSettlement #PropertyInsuranceClaims #Settlement #PropertyDamage #HurricaneDamage

The aftermath of Hurricane Milton continues to unfold, with total losses expected to reach up to $100 billion, according to Morningstar DBRS. Smaller insurers face increased pressure, while Citizens Property Insurance is set to absorb a significant share of the losses. Read more on how this storm impacts the insurance landscape. https://wix.to/NANdNvo #newblogpost, #HurricaneMilton, #InsuranceLosses, #FloodInsurance, #CitizensPropertyInsurance, #TampaBayDamage, #NationalFloodInsuranceProgram, #FloridaInsuranceMarket, #InsuredLosses, #EconomicImpact, #ReconstructionCosts

🌪️ Hurricane Milton Hits Florida – Our Thoughts Are With You 🌪️ Our hearts go out to everyone in Florida as Hurricane Milton makes its devastating impact. The destruction and hardship faced by those in hurricane zones is unimaginable. Here in the UK, we're fortunate not to experience hurricanes, but it's important to remember that severe weather can still cause significant damage. 💨 Did you know? Even in high winds, damage to fences isn’t typically covered under standard home insurance policies. It’s a common misconception, but many policies exclude fences, gates, and garden structures from storm damage coverage. Now is the perfect time to review your insurance policies and make sure your property is fully protected in extreme weather. 🌧️🌪️ Stay safe, everyone, and let's keep Florida in our thoughts as they recover. 💙 #HurricaneMilton #InsuranceTips #StormPreparedness #Florida

Interesting report from FEMA.

🌪️ Hurricane Milton: Protecting Your Home and Managing Your Sale During the Storm 🏠 As Hurricane Milton approaches, it's essential for Florida homeowners to be prepared—not only for their safety but to protect their investment. Whether you’re preparing your primary residence, navigating insurance claims, or trying to sell a home during hurricane season, there are key steps to take to safeguard your property and manage the sale process if damages occur. In my latest blog, I share: • How to effectively prepare your home for Hurricane Milton. • What to expect if your property sustains damage and how to work with insurance adjusters. • Special considerations if your home is listed for sale or under contract during a hurricane. • Tips on understanding deductibles, disclosures, and tapping into government assistance. Don't wait until the storm hits—read the full blog now and be prepared: www.kevinfarfan.com #HurricanePreparation #InsuranceClaims #FloridaRealEstate #KevinFarfan #HomeProtection #HurricaneMilton #RealEstateTips #SellingDuringHurricaneSeason

Losses from Hurricane Francine are not going to be terrible, with losses (only!) expected to be in the 'low single billions'. Today's demotion to a tropical storm seem to be bearing that out. Nevertheless, if you are the one without power or suffering flooding in Louisiana, this might not be much comfort. Another reminder that homeowners can do a lot to prepare - from generators to emergency supplies, sump pump maintenance, and more. Stay safe out there. https://bit.ly/3B29hTw

Active Hurricane Season does NOT always coorrelate to high insured losses. This may seem counterintuitive but hurricane damages are much like the age old adage of real estate, they rely on "Location, Location, Location". A category 5 hurricane ripping through downtown Miami may cause $50-100B in insured losses while an identical category 5 hurricane in some more rural parts of the country may not top $10B. There are low activity years that have huge insured losses and high activity years that have low relative insured losses relating to named windstorms. Of course, with more bullets in the chamber you may have different probabilities but this is not a good indicator of expected insured losses for the insurance industry.

Working with hurricane attorneys has brought a real perspective to what everyone is going through. Living in the Arizona desert we do not have to worry about big storms hitting us like the east coast does... To everyone in the path of Hurricane Milton & who made it through Helene, my best wishes go out to you and your families. These storms will bring and have brought damage as we have never seen before especially with the back-to-back impacts about to happen, as well as the extensive damage that has been documented in northern parts of the east coast like North Carolina. If you have significant damage, make sure to get your claims in as fast as you can. There will be an influx of claims that will delay the insurance companies' payout and bankrupt some of the companies entirely. If your claim is denied, partner with an attorney as soon as you can, not a public adjuster(post in the future will be about this entirely) as they are well-educated on the insurance system in situations like this. If you need a hand on a personal level, reach out to me and I will try to help in any way we can. We all need to stick together and help out anyone we can who has been or will be affected by these storms. #hurricanemilton #hurricanehelene