Here’s a rundown on the changes of keenest interest to insurance advisors...
February 13, 2013 - St. Petersburg, FL -Wright Flood, the nation’s largest provider of federal flood insurance has closed 67% of Superstorm Sandy claims filed by its New Jersey policyholders and 66% of the approximately 20,000 Sandy-related flood claims it has received overall. To date, Wright Flood has paid its policyholders almost $600 billion dollars on closed claims and advanced more than $115 million on open claims to its policyholders.
Henry Neal Conolly, president of Wright Flood, reassured policyholders and agents in a half page ad Monday in the Wall Street Journal that the company was making significant claims payment progress. Conolly felt it was important to respond to Governor Chris Christie’s statement at a news conference on February 5 that insurers handling Sandy flood insurance claims for the National Flood Insurance Program had a closure rate of less than 30%.
“We applaud the Governor’s advocacy for the citizens of New Jersey who include many of our employees and agents.” Conolly said. “However, our performance has been substantially better. Wright Flood only writes flood insurance. This sole focus helps us better serve our policyholders.”
Conolly says Wright Flood has made good use of the advance payment process developed by FEMA and the National Flood Insurance Program (NFIP), to expedite claim payments. “Wright Flood’s process ensures that when a policyholder and the catastrophe adjuster agree, the claim is paid within 72 hours. Our agents and national staff are on call to assist our northeast policyholders, and we will continue to be there for Sandy’s victims until every claim has been resolved, “Conolly stated.
Wright Flood has the largest permanent flood claims staff in the industry and, in response to Sandy, has deployed more than 700 flood-certified adjusters in cooperation with its claims adjusting partners.
Through federal flood insurance and the National Flood Insurance Program (NFIP), Wright Flood provides policies to protect homes, businesses and their contents from flood disasters. Wright Flood, headquartered in St Petersburg, FL, is a member of The Wright Insurance Group, Uniondale, NY.
For more information about Wright Flood, visit www.wrightflood.com.
About Wright Insurance Group
The Wright Insurance Group, a portfolio company of Aquiline Capital Partners, provides a variety of specialized insurance and risk management services to the public and private sectors in the U.S. through its various subsidiaries. Visit www.wrightinsurance.com for more information.
Dolores D. Glass