National Flood Insurance Program Announces Simplified Adjustment Process
Process Streamlined for Policyholders Affected by Hurricane Katrina
Washington, D.C., – In the wake of Hurricane Katrina, the National Flood Insurance Program will modify the way it settles claims to expedite the response to those policy-holders in storm-stricken areas under a new policy announced today by Acting Under Secretary of Homeland Security for Emergency Preparedness and Response R. David Paulison.
“The National Flood Insurance Program (NFIP) is working closely with the insurance industry to speed the claims process and enable adjusters to help policyholders get settlements quickly,” Acting Federal Flood Insurance Administrator David Maurstad said. “For many Hurricane Katrina victims, the effort to rebuild their lives begins with filing a flood insurance claim.”
The NFIP is utilizing all available data on water depths, aerial imagery, and information from underwriting files, to determine properties where it is readily apparent that flood damage covered by the policy will exceed the amount of insurance purchased. It will be possible to pay the policy limits through dialogue with the insured and without waiting for a site visit to adjust the loss. This process may be used when homes have been washed off their foundations, affected for long periods by standing water, or when only pilings or a slab remain. [More Information]
Last Modified: Monday, 26-Jun-2006 13:04:07 EDT