HVAC Claims Continue to Offer Property & Casualty Carriers a Monumental Opportunity to Realize Millions in Claims Leakage Annually
In 2018, 61% of the claimed perils investigated by HVACi were recategorized, with 16% of claimed systems found not damaged during an onsite assessment. This data illustrates that when carriers partner with a trusted, third party expert to evaluate HVAC losses, they can better control and reduce indemnity leakage. Further, the report delves into each policy line, a variety of causes of loss, and the year's major catastrophes to reveal meaningful data points for Property & Casualty claim professionals. The analysis underscores the prevalence of HVAC claims in the insurance industry and features insights that will be valuable in setting indemnity reserves and making staffing decisions.
Distributed to Property & Casualty insurance carriers nationwide, the HVACi 2019 Annual Claims Report features data derived from many thousands of residential and commercial claims referred to HVACi by the nation's top carriers in all 50 states. These claims encompass all major perils, manufacturers, and equipment types that adjusters encounter on a day-to-day basis.
This year's report features popular topics carriers rely on, including Average Claim Accuracy, Repair vs. Replace Frequency, Reported vs. Actual Cause of Loss, and Frequency of Claims by System Type. In particular, claim trends such as Distribution of Claims by State and Reported Claims by Month by Peril offer key insights into setting indemnity reserves. 2019's report also dives into data from the year's most devastating catastrophes: Hurricane Florence, Hurricane Michael, and the
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HVAC Investigators (HVACi) is the nation's leading provider of HVAC and refrigeration damage assessments. Our prompt inspections, actionable reports, and national footprint help insurance carriers settle HVAC claims more quickly and with a higher degree of accuracy. To learn more about our services or to submit an assignment, please visit hvaci.com, email [email protected], or contact us by phone at (888) 407-5224.
HVAC Investigators is a portfolio company of
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888-407-5224, ext. 114
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SOURCE HVAC Investigators
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