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Hurricane Loss Management: Practical Steps & Insurance Guidance

A comprehensive guide by Rick Osorio on managing hurricane losses, insurance coverage, and business continuity. Learn about damages, insurances, evacuation levels, and essential steps for a smooth insurance claim process.

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Hurricane Loss Management: Practical Steps & Insurance Guidance

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  1. Practical Steps to Hurricane Loss Management Rick Osorio, Director of Insurance Diocese of St. Petersburg

  2. Katrina and Rita’s Wrath • In Louisiana, primarily in the southern portion of the state, and in Biloxi, Mississippi, 4 Diocese and one Arch Diocese were affected by these storms • Damages caused totaled $81 billion

  3. Coastal Properties at Risk Evacuation levels A & B

  4. Causes of damages • Windstorm • Flood • Rain

  5. Windstorm damage • Damage to property caused by wind blowing over items, or propelling something into your building

  6. Flood Damage • Can originate from an overflow of a nearby inland body of water, or • Water surge from a hurricaneif you are near coast line • Not being in a flood zone is no guarantee that you are protected from hurricane surge

  7. Rain damages • Can come in through damaged roofs and windows • Not considered flood

  8. How are property and contents insured and adjusted ? • Building and contents are insured on a replacement cost basis. For most items, this means that if they can’t be repaired for less than their insured value, they will be replaced. • Building damage is either repaired or the building is deemed a total loss and replaced • It is critical that up to date values, including building improvements are reported to the Insurance Office annually

  9. Business ContinuityCoverage • Usually pays expenses in relocating to another site while repairs take place • Only key personnel to be paid • Key utilities and services to be paid • Loss of tuition would be covered • Loss of mass offerings are not

  10. Call Catholic Mutual Group • Advise operator you have a hurricane claim to report. You will be transferred directly to a claims representative • 1-800-228-6108 • A field adjuster will be assigned to your claim. Take note of the claim number and name and phone number for the field adjuster

  11. After Reporting your Claim--- • Assess your damages, walk around your property safely • Take photos and make notes, and organize them per building, area of your property. Organized presentation of your loss is key. Do not throw away items • Contact contractors who can write estimates • Make the property safe, for you and staff

  12. Be prepared for the adjuster • Present your claim documents, receipts, estimates and photos. Make sure you have copies • Catholic Mutual will work with adjuster to determine the loss of your claim and work with contractors to begin repairs of your property

  13. In closing….and other thoughts….. • Prepare a disaster plan with your staff. Rehearse it, making it a living document • Keep it simple (http://publix.onestorm.org/default.aspx?ReturnUrl=/OnePlan/) • Back up storage to a remote location • Move vehicles and mobile equipment to a safe site • Have at least one alternate site that you can operate from chosen before storm • Monitor volunteer assistance. Safety first.

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