Storm Claims - Hints

After the Storm comes the Claim - What to do now.

Day-after tips

Here are some day-after tips from CPR Insurance Services when you need to claim on Insurance following a Storm.
 

Take photos.
Document all of the damage, especially of thing you need to dispose of quickly, like wet carpeting or spoiled food.

Make small repairs now.
If you have broken windows or other minor damage, repair it now to prevent further damage to your property.
Major repairs should wait until insurance adjusters have visited your property.
If possible, get a range of quotes before undertaking major repairs. However remember your insurance company may have specific steps it wants you to follow.

Check out your contractor.
In areas with widespread damage, it may not be possible to find a local contractor. If you hire someone from another city or state, ask to see a business license and evidence of liability insurance and record that information.
It is also a good idea to make a note of the contractor's license plate number.
Be very wary of contractors who demand payment upfront or pressure you to make a decision right away.

Lodge your insurance claim as soon as possible. After a large disaster, it can take longer than normal for your claim to be processed. Starting early helps ensure timely payment as insurers very much deal with claims in chronological order first and then ease of the claim next. So if you provide all the information the insurers need including properly completed claim forms, quotes for repairs, photos of damage and accounts or invoices for partial emergency repairs, it is likely your claim will be paid sooner rather than later.

CPR Claims Service

We provide complimentary claims services for all our clients but if you are not insured through us for that particular type of risk, we do offer a claims consultancy service at a reasonable cost if needed. CPR Insurance are experts who will save you.

Latest News

D&O premium pool ‘must treble’ to return to profitability

A new report – called "Show Me The Money!" by insurer XL Catlin and law firm Wotton + Kearney – is the second in a series of three white papers on securities class actions and their impact on the Directors & Officers Liability (D&O) market. The main conclusion is that Directors’ and officers’ (D&O) insurance premiums are under-priced significantly and need to rise strongly to restore profitability. The main risk areas are those exposed to securities class actions, 

It says Directors & Officer's Side A, Side B and Side C cover has been chronically underpriced since at least 2011, while the frequency of class actions is increasing as more plaintiff lawyers and litigation funders enter the space.

The analysis suggests last year’s overall premium pool of about $210 million would need to increase by at least three times to establish a profitable market, if it is assumed all other factors stay unchanged.

“Recent market developments would indicate most D&O insurers are now endeavouring to restore some semblance of profitability to their portfolios after years of market losses,” the report says.

read more

75% of Cyclone Debbie claims settled

In the 6 months since Cyclone Debbie devastated Queensland and parts of northern New South Wales:

• more than 31,000 homes and business have been repaired or received settlements from their insurance company

• more than 20,000 families have had possessions replaced

• more than 4,500 motor vehicles have been repaired or new vehicles provided

• hundreds of local builders and trades have been working on properties to repair the damage and destruction caused by the cyclone

• over $5 million has been paid EACH DAY to assist local communities, residents and businesses.

read more