In terms of the quantity of buildings, cars, and infrastructure affected, Hurricane Ian caused greater damage in Florida and the Carolinas than Hurricane Ida did in Louisiana last year.
The fundamental cause of the likelihood that Ian’s insured losses will exceed Ida’s $36 billion is this.
Even though only around 18% of Florida homes have flood insurance, claims for Ian’s flood damage are anticipated to exceed claims for Ian-caused wind damage as a percentage of this $40 billion to $60 billion catastrophe.
Crawford & Company expects to be in charge of a sizable portion of these flood claims.
Dealing with losses that are both insured and uninsured will be particularly difficult.
Crawford continues to assess the hurricane’s effects and aid in the recovery as access to Fort Myers and the southwest coast of Florida is opened up.
The deployment of thousands of Crawford’s adjusters has already reached its fastest ramp-up ever; it is the largest deployment in history at this early stage, and we anticipate that it will rise in the upcoming weeks.
This adjuster engagement spans our U.S. CAT team, which includes edjuster, the technologically advanced field and desktop contents claims handling solutions provider Crawford acquired in August 2021, as well as Crawford’s on-demand inspection service WeGoLook, our loss-adjusting business, and managed repair network Contractor Connection, our loss-adjusting business.
Crawford Global Technical Services is also working with a number of clients who are currently evaluating the hurricane Ian damage, and we anticipate that as more claims are made for commercial property damage, the number of such claims will increase.
Crawford additionally maintains fully functional support rooms in Gainesville, Tampa, Sunrise, and Orlando, all located in Florida.
Due to the damaged infrastructure, access is still difficult in the early stages of the response. However, we have given priority to emergency mitigation services, board-up activities, and tree removal to help prevent further damage and restore residential and commercial structures to a usable state as soon as possible.
Claims inflation and supply chain concerns are anticipated to have an impact on the industry’s reaction to Hurricane Ian as the rebuilding effort progresses.
There will be a high demand for construction supplies.
Helping individuals who suffered terrible losses and rebuilding the lives, companies, and communities devastated by the disaster are our current