Crisis Plan Based on Haiti Earthquake

[AstonishNick]

As someone interested in insurance, but not an agent, I'm curious if it's common to have a pre-existing crisis plan in case of a natural or some other disaster?

Basically what to do should a massive amount of claims come all at once? Can you even prepare?

 

[somarco]

Yes, it is called reserves + reinsurance.

Of course unlike the public, who believe you can purchase insurance AFTER the event, this process requires advance planning.

 

[AstonishNick]

Thanks for the info.

As an agent, do you feel there is value making other preparations in the event your offices were damaged or communication lines were cut off?

Or is it viewed as a waste of time/energy setting up a plan for the unforseen?

 

[somarco]

Online backup such as Mozy or Carbonite

 

[Benefits Man]

Depends on the type of business for some it's doable and others not so much...

 

[catowned]

For the massive amount of claims: I know here they used an unoccupied building/parking lot and they set up these tent like things. It's looks like a big insurance fair when driving by! It's not just one insurance company there are a lot of them all in the same building/parking lot. These people are from out of town.

The big complaints I heard were not with not being able to file a claim but the wait time for adjusters. (Are those the people that inspect the property?)