The Florida Workplace of Insurance coverage Regulation desires property insurers to do not forget that one other deadline for enhanced disaster reporting on Hurricane Idalia claims is Nov. 16.
The OIR is required by legislation to gather a spread of knowledge on hurricane claims. The deadline for the first round of enhanced reporting was in September. The most recent spherical is required of all property insurers and have to be well timed and correct, the workplace mentioned in a bulletin Monday.
Claims reporting kinds and different info will be discovered here, on the OIR web site. The fillable 2023 disaster reporting kind template have to be downloaded inside the submitting. Beforehand downloaded templates is not going to work, the company famous.
Every insurer should submit its CRF on a person insurer foundation solely, OIR mentioned. If an insurer has no insurance policies in drive in Florida for the required traces, the insurer should nonetheless submit a “no information” submitting. Reporting is cumulative and should embody all claims as of the reporting date.
Idalia struck the less-populated Huge Bend space of Florida in late August. OIR experiences that as of Oct. 26, some 24,250 claims have been reported, with about 16,500 of these for residential property. About 71% of claims have been closed – 10,546 of them closed with cost. About 6,769 have been closed with out cost and three,727 stay open with out cost, the workplace reported.
Insured losses from the storm are estimated to be greater than $288 million, OIR mentioned.
Photograph: Keaton Seashore, Florida, proper after Idalia hit on Aug. 30, 2023. (AP Photograph/Rebecca Blackwell)
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