Our Technical Approach To Property Insurance

CAT Modeling Services

The frequency and severity of financial loss from catastrophic events has steadily increased; due largely to growing concentrations of property in high-risk areas, increased construction and commodity costs, and the inclusion of more contingent (indirect) business interruption costs within programs. Sound risk management, therefore, should take into account catastrophe risk exposure. Within the past few years, fine-grained electronic maps, geological and weather models, and financial analysis tools have been honed to provide a reasonable approximation of the expected damages for many catastrophe scenarios:

  • Models: Hurricane, Earthquake, Tornado/Hail, Terrorism
  • Hazard Reports: Flood Zone Determinations, Soil Type, Historical Hurricane Distance

Property Claims Management

At Cecil W. Powell & Company, our Property Claims Management process is an integral part of the client service commitment. This integrated approach enables us to help design policies with coverage wording and structure that are claim-tested and innovative combined with efficient handling / management processes that reduce the claims life cycle and facilitate favorable settlements.

The successful management of a claim starts well ahead of the loss. Establishing a pre-loss program where we obtain agreement with carriers and adjusters on protocols following a loss, sets the foundation for the efficient adjustments of a claim. Taking this proactive approach will help eliminate potential problems following a loss.

When a claim arises, your advocates will manage the claim adjustment process to ensure that all policy benefits are received and service expectations are met or exceeded. Claims are managed through our state-of-the-art technology platform to report, communicate and monitor the process to resolution.

 

Wind Deductible Elimination Plan

On average, seven hurricanes strike the U.S. every four years, while about two major hurricanes cross the U.S. coast every three years. Property insurance markets are enforcing higher wind deductibles placing an economic burden on you.

The Wind Deductible Elimination Plan pays 100% of your wind deductible and helps you get back in business.

Let Cecil W. Powell & Company show you how to preserve your financial resources today.