September 12, 2007 by Canadian Underwriter
In the wake of the tropical storm Chantal, which hit Newfoundland and Labrador at the beginning of August causing an estimated Cdn$5.8 million in insured damages, insures are showing the commitment to policyholders, according to the Insurance Bureau of Canada.
Insurers are responding quickly to residents’ claims, Don Forgeron, vice president, Atlantic, IBC, said in a release. “In fact, many policyholders have already received their claims payments.
Flooding is not covered, but windstorm damage is as is damage from sewer backup for those residents who have added it on to their homeowner policy, Forgeron noted in the release.
He added that damage to vehicles from flooding is generally covered by the comprehensive portion of an auto insurance policy.
Forgeron urged residents to contact their insurance representatives to confirm what coverage they have.
Applied Systems, Inc. has announced the first download of claims data into an automated agency management system.
Claims download is now available to carriers and agencies who are using The Agency Manager (TAM) and its interface services, allowing a carrier to transmit all daily claim activities within nightly download communications to an agency, a company release says.
Similar to existing policy and direct bill download processes, claims download automatically locates corresponding accounts and policies within TAM and creates new records based on the carrier’s claim activity, the company announced in a release. The claims download process complements existing real-time claims inquiry, which allows agencies on-demand views of carrier claims information and loss runs.