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olderthendirt
USA
370 Posts |
 Posted - 09/14/2003 : 20:30:49
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| Well now I'm on standby, what if noone calls or the wrong company calls first. Should I ahve gone on standby for the entire vendors list and the Balimore Oriles. What if my cell phone breaks or the darn storm misses the coast. What if the company I prefer calls after I get there, is it ethical to jump ship. What if I cannot find a hotel or an interney connection. What if my hard drive crashes! Maybe I'm just punchy after sitting in front of the puter for 16 hours reading the latest weather info. And I know I'm the only one who feels this way. |
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KileAnderson
USA
875 Posts |
Posted - 09/14/2003 : 22:00:43
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| Believe it or not, after waiting all these years for the big one, I'm stuck working cleanup and will probably miss this one. Aint that always the way? |
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ChuckDeaton
USA
373 Posts |
Posted - 09/14/2003 : 22:16:57
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Just resign yourself, should a class 3 Hurricane go up Chesapeake Bay, there isn't going to be a motel room within 250 miles. All power and telephone is going to be down, no Internet, no clean water, no food and no clean clothes. You either bring it or do without.
There are going to be company bankruptcies and vendor bankruptcies and adjuster’s that lose their where with all, this is the real world folks, life is a contact sport so take care of yourself.
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TedPasan
82 Posts |
Posted - 09/14/2003 : 22:35:39
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Chuck, I think you hit the nail on the head. Without great regard to whether this storm comes in as a Class 3, 4 or 5, if it goes up the Chesapeake, it is going to wreck havoc over an extremely large area. 7 or 8 states could easily see damages and claims. Because of that, there are going to be challenges for the adjusters, vendors and carriers unlike the usual ones, and more especially because of that big pool of water called the Chesapeake Bay which separates many different land areas from one another. Possible storm damage to the Chesapeake Bay Bridge Tunnel could make this more of a nightmare than many can imagine. I suggest that every adjuster take a real close look at a large roadmap of the areas around the Chesapeake and realize that something as simple as delivery and disperal of claims by the vendors to their adjusters may be a logistical nightmare, all the more so because of phone lines being knocked down. Power loss over such a large area will result in even longer delays than normal in restoring power which can and will affect adjusters using computers and estimating programs. (Can you imagine a long period without utilities wherein adjusters would have to resort to hand writing claims? Don't laugh, it could happen!) Sending completed files back to the vendor or collecting them at central locations will present a logistical nightmare as well given the areas forecast for damage; and even the largest vendors such as Crawford and GAB will have a tough time in setting up storm offices over such a large area so as to be easily accessible by the many adjusters scattered throughout the region.
Next, there will be the inequities of different adjusters working for the same carriers through the very same vendor working off the same fee schedule, when the reality is that the cost of daily living in certain areas could easily be double if not triple that of other adjusters working in a more reasonably affordable area. Motel costs inland in NC will be about a third of the costs incurred by adjusters working northern New Jersey. Without some effort by vendors and carriers to rectify such inequities, expect to see a much higher and more unusual amount of adjusters jumping ship from one vendor to another to enhance their earnings.
Finally, I forsee that this is a storm which could easily extend work out for a majority of adjusters for a much larger amount of time than usual given the same storm class in almost any other location. Clean-up likely will not start for 6 months and could easily last several years. The wide dispersion of claims ultimately, is going to result in a shortage of seasoned adjusters, and I predict that within two weeks of landfall, the carriers will be putting extreme pressures on even reluctant vendors to bring in warm bodies, so there will be a lot of on the job training opportunities for almost anyone seeking to make Isabel their first storm.
KNOW BEFORE YOU GO. Ask the right questions and demand answers to your questions before you go out. Compare fee schedules among at least 3 vendors. And steer clear of those vendors not willing to answer forthrightly your important questions before you leave home.
Stay safe, remember helping others is why we do what we do. Help your brother and sister adjusters when you can and make many new and wonderful friendships. Reward yourself, stay in constant touch with and maintain your own families' needs, make some money, and most of all, have fun!
This storm is going to be unlike any that we have ever seen and we all will be challenged no matter our experience, knowledge or background.
May we all pray to God that no one is killed or severely injured in the days ahead by the devastating power of nature's forces unleashed.
Good Luck to all of you! |
Edited by - TedPasan on 09/14/2003 22:46:34 |
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olderthendirt
USA
370 Posts |
Posted - 09/14/2003 : 22:42:48
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| Maybe we should be asking both the vendors and the companies for their finacial statements before we start work. Was lucky in Andrew, company went down but paid our fees first. How many states have a set up like florida to protect the public (and little old us) in event a company goes down. Also, some of us may know before hand which compnies are already in financial difficulties. |
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olderthendirt
USA
370 Posts |
Posted - 09/15/2003 : 12:01:32
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I noticed that Hockey players stop shaving days before the big game, I locked my shaver away this morning. The guys can stop shaving but what do women athletes do before the big game?
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KileAnderson
USA
875 Posts |
Posted - 09/15/2003 : 12:25:45
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| I know what hockey players do before the big game and it may help in this situation, but I don't reccomend that we follow the example of boxers and what they don't do before the big fight. It could be a long storm. |
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CCarr
Canada
1200 Posts |
Posted - 09/15/2003 : 12:33:31
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Marc, your thoughts on viewing financial statements are valid, doable, but quite a large chore.
From the carrier side, as most (and likely all) are publically traded, if we had a much better belief on what state or few states would get the worst slap from the cane, then we could narrow the search to those licensed in that core. Until then, it would be a large task.
As for the vendors, most (but not all) are private corporations, hence their financial records are not publically available. If one of "us" had access to a Credit Bureau reporting agency, I'm sure we would be quite enlightened.
There has been one multinational I/A vendor in the news several times this year concerning their declining fortunes and increasing losses. Past insurance journal enews carried the stories as they unfolded. |
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TedPasan
82 Posts |
Posted - 09/15/2003 : 12:58:54
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If I remember correctly, after Iniki and Andrew, A.M. Best released some advisories with rating downgrades for carriers they deemed in trouble and those were issued within the first week or so of landfall. They then continued with regular advisories thereafter. A.M. Best is the financial ranking service which will no doubt provide all of us with the warnings we need to heed.
The size, intensity and projected landfall areas for Isabel are such that multiple carrier insolvencies are likely, and I suggest that there will be an above average quite extraordinary amount of "jumping around" by cat adjusters once the word gets out that a carrier is in financial straits. And unless your vendor is paying you without regard to whether they receive their money first from the carrier, then you are at risk for it taking a long time and perhaps a settlement of pennies on the dollar before you MAY get paid.
This is going to be a hurricane of historic proportions with consequences never before seen, and more than ever, adjusters need to know before they go, and then keep their eyes and ears open once they get there.
(My other prediction for this storm, is that carriers and vendors are only going to have about a third to half of the total number of adjusters needed, so there may be some "bidding up" in fee schedules and/or vendor percentages paid, from carriers/vendors worried about losing adjusters to outbidding competitors.)
http://www.ambest.com/http://www.ambest.com/ |
Edited by - TedPasan on 09/15/2003 13:08:24 |
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olderthendirt
USA
370 Posts |
Posted - 09/16/2003 : 08:49:13
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| It's falling apart, it's going to hit the area of NC where few live. The only calls I have are from companies I have never heard of. And they want me at ground zero at the same time the storm is due. And now everone who calls wants a different estimating system then the one i'm paying for. Any bets the next company will want me to use a polaroid joy can and hand write. Sigh, less then 72 hours before I really know nothing of whats happening. |
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pilot48
USA
78 Posts |
Posted - 09/16/2003 : 09:32:08
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| I feel wherever it actually hits, it's going to be some what like a mini Hugo, it's going to travel well inland. Richmond, Baltimore, Washington.........a lot of business there guys, so much that one might consider just calling a few local companies and making some arrangements; letter of committment, retainer of good faith, etc. I've shared this with you in the past in an effort to help everybody! |
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Ami Fawker
4 Posts |
Posted - 09/16/2003 : 09:43:56
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Quote of the Day:
Somewhere, something incredible is waiting to be known.
Carl Sagan
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ChuckDeaton
USA
373 Posts |
Posted - 09/16/2003 : 10:03:32
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| What a difference a 100 miles one way or the other makes. The unpopulated area of NC to the Naval base at Norfolk. |
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BuckyS
14 Posts |
Posted - 09/16/2003 : 10:39:27
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| The latest update from the NHC is showing this thing now down to 105mph and it is looking more and more like a local storm. We all better get busy and call the local and county adjusting firms down there. I think the big boys are gonna be sitting this one out. There go the xmas presents for a lot of us. |
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BuckyS
14 Posts |
Posted - 09/16/2003 : 10:42:48
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By the way does anyone know who the vendors are for the nc windpool?
Does virginia have a windpool and if so who are there vendors? |
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Dorch Horton
2 Posts |
Posted - 09/16/2003 : 10:45:48
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| wonder what the latest scope is on that company that said they were going to get 10,000 to 40,000 claims? are they still going to be getting that many? where will those claims come from? |
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Pre call out jitters
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