Disaster Planning & Insurance - Jack Evins, Texas Insurance of Board

4,132 views

Published on

1 Comment
2 Likes
Statistics
Notes
  • Hi,
    Champions Insurance Agency offers a full range of personal Insurance, Business Insurance and Financial service products. This means we can insure your home, personal autos, business vehicles, workers compensation, life insurance, business property and liability Insurance, personal and commercial umbrella Insurance, mortgages and investments.

    texas business insurance
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here
No Downloads
Views
Total views
4,132
On SlideShare
0
From Embeds
0
Number of Embeds
11
Actions
Shares
0
Downloads
4
Comments
1
Likes
2
Embeds 0
No embeds

No notes for slide

Disaster Planning & Insurance - Jack Evins, Texas Insurance of Board

  1. 1. EMERGENCY PREPAREDNESS HOW INSURANCE & TDI CAN HELP JACK EVINS TEXAS DEPARTMENT OF INSURANCE
  2. 2. TOPICS - OVERVIEW <ul><li>What we learned from Ike </li></ul><ul><li>Insurance policies </li></ul><ul><ul><li>Types of coverages </li></ul></ul><ul><ul><li>Purchasing considerations </li></ul></ul><ul><li>TDI’s role regarding disasters </li></ul><ul><li>How to get more information from TDI </li></ul>
  3. 3. WHAT WE LEARNED FROM IKE <ul><li>At least 790,000 claims </li></ul><ul><li>Estimated insured losses of > $10B </li></ul><ul><li>> 4,800 complaints filed with TDI </li></ul><ul><li>> $27M returned to consumers </li></ul><ul><li>Top five reasons for complaints: </li></ul><ul><ul><li>Claims delays </li></ul></ul><ul><ul><li>Unsatisfactory settlements/offers </li></ul></ul><ul><ul><li>Denial of claims </li></ul></ul><ul><ul><li>Customer service </li></ul></ul><ul><ul><li>Agent handling </li></ul></ul>
  4. 4. PROPERTY INSURANCE <ul><li>Understand covered perils </li></ul><ul><ul><li>What’s covered under your property policy? </li></ul></ul><ul><ul><li>Windstorm coverage & the Texas Windstorm Insurance Association (TWIA) </li></ul></ul><ul><ul><li>Flood coverage & the National Flood Insurance Program (NFIP) </li></ul></ul>
  5. 5. PROPERTY INSURANCE <ul><li>Homeowners </li></ul><ul><ul><li>Multiple and diverse policy forms </li></ul></ul><ul><ul><li>Home (structure) </li></ul></ul><ul><ul><li>Contents </li></ul></ul><ul><ul><li>Water damage & mold </li></ul></ul><ul><ul><li>Liability </li></ul></ul><ul><ul><li>Additional living expenses </li></ul></ul>
  6. 6. PROPERTY INSURANCE <ul><li>Other property coverages </li></ul><ul><ul><li>Renters (tenant) & other dwelling </li></ul></ul><ul><ul><li>Commercial (fire & extended coverages) </li></ul></ul><ul><ul><li>Business income </li></ul></ul><ul><ul><li>Auto </li></ul></ul><ul><ul><li>Mobile home </li></ul></ul>
  7. 7. BE INSURANCE-READY <ul><li>Important considerations – Review your policy </li></ul><ul><ul><li>Replacement cost vs. actual cash value </li></ul></ul><ul><ul><li>Deductibles </li></ul></ul><ul><ul><li>Endorsements – add/delete coverages </li></ul></ul><ul><li>Know who you’re dealing with </li></ul><ul><ul><li>Licensed insurers/agents </li></ul></ul><ul><ul><li>Surplus lines insurance </li></ul></ul><ul><li>Prepare your evacuation kit (important papers, company/agent contact info, prescriptions, etc.) </li></ul>
  8. 8. DEALING WITH A DISASTER <ul><li>Notify your company or agent </li></ul><ul><li>Inventory/document damaged property </li></ul><ul><li>Responsibility to prevent further damage </li></ul><ul><li>Keep receipts for reasonable repair expenses </li></ul><ul><li>Make your address visible </li></ul>
  9. 9. DEALING WITH A DISASTER <ul><li>Be present for adjuster’s inspection </li></ul><ul><li>The role of public adjusters </li></ul><ul><li>Use reputable contractor(s) </li></ul><ul><li>Contact TDI for assistance </li></ul>
  10. 10. TDI’S ROLE IN DISASTERS <ul><li>Coordination with other state/federal agencies </li></ul><ul><li>Coordination with insurance industry </li></ul><ul><li>Loss prevention </li></ul><ul><li>Combat insurance fraud </li></ul><ul><li>Report fraud! 1-888-327-8818 </li></ul><ul><li>or online at www.tdi.state.tx.us/fraud/onlinereport.html </li></ul>
  11. 11. TDI’S ROLE IN DISASTERS <ul><li>Consumer assistance </li></ul><ul><ul><li>Consumer publications </li></ul></ul><ul><ul><li>Outreach activities </li></ul></ul><ul><ul><li>Consumer help-line: 1-800-252-3439 </li></ul></ul><ul><ul><li>Website: www.tdi.state.tx.us </li></ul></ul><ul><ul><ul><li>StormLink </li></ul></ul></ul><ul><ul><ul><li>Disaster “resource pages” </li></ul></ul></ul>
  12. 12. TDI WEBSITE RESOURCES
  13. 13. TDI WEBSITE RESOURCES
  14. 14. TDI WEBSITE RESOURCES
  15. 15. <ul><li>Thank you! </li></ul>

×