The majority of October Fire Insurance Claims resolved
IINC investigation will be almost 90% of the duration of disaster Claims Siedlungsraum
LOS ANGELES - (BUSINESS WIRE) - A new survey of insurance companies estimated that nearly 90 per cent of claims in October devastating fire and wind storms have been settled.
A survey by the Insurance Information Network of California businesses, which represent nearly two thirds of homeowners in California insurance market, they have their applications 29,954-33,789 housing in October of the disaster. Until now, these applications have resulted in more than 1.27 billion dollars in value of claims in the colonies companies surveyed believe that such claims finally to a total of 1.47 billion dollars.
In comparison, approximately 86 per cent of claims by the year 2003 has been constant wildfire in April 2004 after a previous investigation IINC. Forest fires 2003 led to the destruction of housing 3600 and submission of 19100 insurance claims with a value of $ 2.04 billion. Although less about 1400 houses were burnt in the fire, 2007, wind and fire with an assault led to many more claims.
In January, the California Department of Insurance estimates that only fires led to more than 33,000 applications worth an estimated $ 2 billion. The dramatic increase is due mainly to claims for lodging expenses during the evacuation of more than compulsory insurance San Diego County.
“Certainly, this is a long way to insurance when travelling on fire survivors, insurers and contractors move at speed so far in this disaster,” said Executive Director Candysse Miller IINC .
The survey tallied Brushfire and wind copyright owner insurance resolved. Storm winds fanned the flames also resulted in thousands of applications and insurance has not always separate fire information in the database application. The insurance benefits are considered “settled” if the insured said he agreed to a financial assistance scheme their assertion. It is closed, after rebuilding a house, conduct inspections and ready to be moved.
On auto insurance do not been questioned in the recent survey.
The majority of insurance claims for disaster are as a general rule, the so-called “partial losses,” or household damage caused by smoke, or even materials fight against the fire. Those who lost their homes, there is perhaps still a long road to recovery, as they work with architects, contractors, planning departments and insurance representative.
The Insurance Information Network of California is a non-profit, non-lobbying association, supported by the damage and accident insurance business industry.
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