One Insurer Views Ian Aftermath
Centauri’s Preparedness in Claims Management and Client Service Proved Essential for its Insureds Following Hurricane Ian Devastation
By the time Hurricane Ian was rated at Category 4 in its attack trajectory toward Florida’s west coast, one insurer had already reflected upon its protocols and its readiness during the expected onslaught, proving that preparedness and financial prudence formulate a winning combination even in the worst of circumstances.
Mr. Jamie Sahara, President of Applied Underwriters, speaking on behalf of its sister companies, Centauri Specialty Insurance Co. and Centauri National Insurance Co., leading property insurers in Hawaii with additional writings along many of the coastal states, including Florida and Louisiana, noted that Centauri had managed to do better for its clients than might have been expected given the 155 mph winds and flooding that destroyed homes, livelihoods, businesses and which wrought all manner of damages on municipal and state services to Floridians: “Our operational and financial preparedness have enabled Centauri to weather Ian, providing its insureds the best possible service in claims and a host of related matters in the more than 2,000 homeowners and commercial claims received to date—90% in Florida, the balance in South Carolina.”
Mr. Sahara continued, “We are pleased to report a few points of fact regarding our response to Ian: we have remained staffed responding 24/7 from our Omaha service center without any outsourced surge resources; answered the more than 4,000 calls initially received with an average wait time of 10 seconds to speak to a representative; and, as of today, completed approximately 80% of claim inspections, all done so within 5.5 days on average of intaking the claim. These facts reinforce Applied’s overall commitment and reputation as having the best record for the fastest and most accurate claims adjusting.”
“We have seen the strains that disasters like Hurricane Ian can cause, and we did our utmost to prepare, especially in our financial claims paying ability—often lacking in this market, and causing some volatility and availability problems. While there needs to be long term legislative reforms affecting the runaway claims environment in Florida, all insurers need to do their part in this market if we are to be committed to it under all circumstances. The number of insolvencies and the precarious financial state of so many insurers are not entirely attributable to an over-licensed trail bar—the responsibility is shared,” Mr. Sahara stated, adding: “Florida’s citizens were brave and resilient, and they deserve our loyalty.”
Mr. Rick Espino, CEO of Centauri, noted that Applied Underwriters’ policy of dedicated resources, as opposed to outsourcing, put Centauri at the apex of the disaster and enabled its effectiveness in providing rapid relief to its insureds: “We felt the effects face-to-face, as our staff manned our place at the Insurance Village set up in Fort Myers to aid communities and individuals. Centauri professionals were there two days, and while there were long lines at the other carriers and at FEMA, not a single customer or agent came seeking us out, validating the dedication and well-orchestrated hard work of our service center and field personnel. The yearly hurricanes alone are a daunting experience, even before one considers regulations and problematic laws, so we are especially gratified that our clients were well-served, at a difficult time, in a difficult region.”
Reflecting upon the fact that there is about a month remaining in 2022’s hurricane season, Mr. Sahara indicated that Centauri continues to stand strong having run less than half way up its catastrophe reinsurance tower, and that the Company’s successes have now given impetus to new plans: “We are looking presently at expanding our commitment of capital and resources to the Gulf Coast homeowners markets in the next year,” and he concluded, “Expect that whatever we do to seem contrarian: we’re usually going when everyone else is coming… and coming when everyone else is going.”
