Property insurer
Farmers Insurance said the firm expects to pay out $175 million in covered losses as storms leave a trail of destruction across the central southern United States.
Foul weather has been wreaking havoc in Alabama, Kentucky, Mississippi, Oklahoma, Tennessee and Texas.
To deal with subsequent claims, a
Yahoo Finance report said that the firm has deployed specially-trained catastrophe team members to help affected customers as they file claims in the aftermath of the storms.
Want the latest insurance industry news first? Sign up for our completely free newsletter service now.
According to the report, the company said it expects more claims to be filed in the next few weeks as policyholders undertake repairs and further assess storm damage to their property. Farmers is encouraging policyholders to file their claims through its online platform, which is accessible through the company website so they can avoid lengthy call times.
As unpredictable weather patterns become more common throughout the US, the insurer advised its policyholders to monitor the weather, especially during the occurrence of storm systems. They should also secure their property and make sure they are safe and protected from the elements as much as possible.
Related stories:
Calls continue for private insurer access to flood markets
FM Global opens access to flood maps to aid in risk prevention
.jpg)
