Friday, March 9, 2012

Insurers Respond to Massive Tornado Outbreak; PCI Offers Recovery Information

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Jeffrey Brewer

Phone:

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847-341-0361

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Jeffrey.brewer@pciaa.net

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Insurers Respond to Massive Tornado Outbreak; PCI Offers Recovery Information

CHICAGO?The Property Casualty Insurers Association of America (PCI) today is offering recovery information for homeowners, renters and business owners affected by one of the largest tornado outbreaks in the month of March. Friday?s storms affected millions of people from Texas to North Carolina and Indiana to Alabama.

?Our condolences go out to the people affected by this catastrophic event,? said Christopher Hackett, PCI?s director of personal lines policy. ?We know that many lost loved ones and suffered severe property damage. Insurance adjusters are in the field now, working to help victims of this storm put their lives back together. And there are a number of things that those affected can do to help expedite the process of recovery.?

Most tornado, windstorm, hail and similar severe weather-related losses are covered either by homeowners, renters or commercial insurance policies. Tornado losses to a home are covered by the windstorm peril under the homeowners insurance policy. Renters insurance also provides coverage to policyholder possessions under this peril. Business owners are covered under their commercial policies. Protection from windstorm or hail damage for cars is covered under the comprehensive portion of the automobile insurance policy.

If you experienced a loss from the storms:

????????? Immediately contact your insurance agent or company representative

????????? Inspect property and cars for damage

????????? Inventory losses and photograph damage, and save related receipts to assist with claims handling

????????? Secure property from further damage or theft

????????? Check the background and legitimacy of repair contractors. Ask your insurance company for assistance in locating a reputable contractor.

????????? Keep detailed records of business activity and extra expenses during the interruption period, and prepare records to show the income from the business both before and after the loss.

For further information, such as storm-related emergency claims numbers and answers to frequently asked questions, please visit PCI?s Tornado Headquarters: (http://www.pciaa.net/web/sitehome.nsf/lcpublic/562?opendocument).

PCI is composed of more than 1,000 member companies, representing the broadest cross-section of insurers of any national trade association.? PCI members write over $180 billion in annual premium, 38.3 percent of the nation?s property casualty insurance.? Member companies write 44.3 percent of the U.S. automobile insurance market, 31.6 percent of the homeowners market, 36.3 percent of the commercial property and liability market, and 42.6 percent of the private workers compensation market.

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Source: http://www.pciaa.net/LegTrack/web/NAIIPublications.nsf/lookupwebcontent/4F5FFAF11B85CF34862579B80058ECC

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