Posted on 06 Jul 2010
Faulty insurance claims adjusting work is being linked to the increased number of reopened insurance cases involving Hurricane Katrina in 2005.
Policyholders are using the appraisal clause in their homeowners' policies to reopen their cases, reports Best's Review.
“The reason we’re seeing so much of it, a lot of it goes back to bad adjusting work. The job wasn’t done correctly in the first place,” said Drew Powell, general adjuster and manager for Davidson & Co. in Alabama.
Alabama, Mississippi, and Louisiana were responsible for much of the more than $47 billion worth of insured losses to the insurance industry from the hurricane, which hit in August 2005.