Compounding the issue is that insurers lack sufficient personnel to assess damages in the avalanche of claims received after the event. Even though the Insurance Commissioner’s Office (OCS by its Spanish initials) has issued millions in fines to several insurers for their delays, the truth is that the penalties do not seem to serve as an incentive for these companies to accelerate the process of fulfilling their contractual responsibility with clients.
After a Hurricane – Property Damage FAQs Q: I don’t have a separate "flood" policy and my home insurance company is telling me that all the hurricane damage to my home is excluded/not covered. Are they right?
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SAN JUAN – The wave of insurance claims in Puerto Rico following the devastating impact of hurricanes Irma and Mara in September has apparently hindered their processing, especially those lodged by island businesses. Dozens of small and midsize companies are unable to run as their owners await their claims to be processed.
A.M. Best Warns on Hurricane Maria Impact on Caribbean/Puerto Rican Insurers Gene Therapy Drugs That Cost Millions Have Employers and Health Plans Worried nfl innovation challenge: $3 Million for.
Hurricane Maria was a deadly Category 5 hurricane that devastated Dominica, the U.S. Virgin. Originating from a tropical wave, Maria became a tropical storm on. crisis; most of the island's population suffered from flooding and a lack of resources,. Through the Caribbean Catastrophe Risk Insurance Facility, Dominica.
The hidden reason for lack of insurance payments after Hurricane Mara June 10, 2019 1 2167 After Hurricane Mara struck, insurers did not respond with claims payments as expected to the point that, a year after the event, the government of Puerto Rico sued 14 insurers for their sluggishness in paying claims or for the lack of payment to.
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The ongoing nightmare of thousands of policyholders whose claims after Hurricane Mara have not been paid, or whose payment was not enough to cover the.
Steps You Should Take to Get a Fair Insurance Claims Payment After Hurricanes Harvey and Irma. Once the insurance company tells you the reasons for its action, it cannot produce new reasons for.
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