| Home >> Insurance Crisis in Louisiana and Its Nationwide Implications
Insurance Crisis in Louisiana and Its Nationwide Implications
By: Eli Minatore
Andrew K. Knox president, Leslie Knox is scheduled to appear on Bloomberg Business Television as the nationwide syndicated network explores the insurance crisis in Louisiana and its nationwide implications. Mr. Knox is uniquely qualified as one of the few certified public insurance adjusters licensed to practice in both the north Atlantic states and the southeast Gulf States.
“Both regions have their unique characteristics but they also share one critical vulnerability; hurricanes,” he explains. “Devastating hurricanes such as Charlie and Katrina not only lay waste to huge portions of land, but they often overtax insurance carriers who are faced with hundreds or thousands of insurance claims overnight.”
Knox adds that it is the responsibility of the home or business owner to protect his or her property from further damage and to properly document the extent of the loss. Mr. Knox explained in the segment, scheduled to air in late summer, that this is the role of the public adjuster. “I explain to property owners that the burden of proof is on them. They need to provide documentation of all claims. I ask them if they are prepared to do this at a time when their home or business is in shambles. Given our experience, we are much better equipped to handle the claims processing in a timely manner. The role of the public adjuster is to return things to normal as quickly as possible.”
Mr. Knox, immediate past president of the National Association of Public Insurance Adjusters (NAPIA) also explained to the reporter that part of the New Orleans tragedy is that many of the homes were passed down from previous generations and were woefully uninsured.
“The key to anyone living or working in a hurricane prone zone is to be prepared. Be sure you’re properly insured and have a contingency plan in place. We have clients that keep our business card on file with their insurance papers. If a loss occurs, we are one of the first calls they make,” he concluded. |