Source: PropertyCasualty360.com
By Danielle Ling
The insurance industry is painfully aware of the increased activity and severity of extreme weather events in recent years, including that of Atlantic hurricanes.
On the list of the 10 costliest U.S. hurricanes on record, 9 out of the 10 most expensive storms occurred in the last two decades.
The Insurance Information Institute (I.I.I.) compiled a list of the top 10 costliest hurricanes in the U.S. and their corresponding insured loss totals, including loss estimate amounts in dollars of when they occurred, and in 2018 dollars adjusting for inflation.
I.I.I. notes that the list’s estimated insured losses for 2017′s Hurricanes Harvey, Maria and Irma listed were developed after studying estimates from catastrophe modelers and other organizations. Additionally, insured losses for Hurricane Irma in Florida are still to be determined as claims have been reopened, and business interruption losses for all three major 2017 storms — Hurricanes Harvey, Maria and Irma — are still being settled. To date, losses for 2018 Hurricanes Florence and Michael are still preliminary and have not been included in this chart.
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If you have experienced an insurance loss from a hurricane, don’t be surprised if the insurance company’s first reaction is to claim that your damage is due to some pre-existing condition or assert that your claim is not covered under the terms of your policy or even cancel your policy based on recently-discovered “errors” in your application. But don’t worry.
At ILG, our experienced and aggressive attorneys take the time to analyze and interpret your policy and understand the full measure of damages available to you. We work with construction experts, restoration professionals and others to determine the facts.
Don’t delay and contact us today for a free consultation in Florida. The Insurance Litigation Group will walk you through the terms of your insurance policy and help you recover the full extent of your covered losses.
