Insurers' joy as minimal damage keeps claims low

Igor’s bark was worse than his bite, with insurance companies reporting minor damage.

Boat owners were the worst hit, with a steady stream of claims expected in the next few days.

Larry Osborne, vice president of insurance operations at Freisenbruch-Meyer Group, said yesterday:

“Whereas with Fabian and Emily we had a lot of roof damage, people who lost all or part of their roofs, there is nothing like that extent of damage this time around.

“We had a team of people who scoured the country yesterday but it all looked pretty clean.

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“People have fared well. We were lucky — we were expecting a lot worse.

“The flow of claims is steady but nothing huge.

“It’s mainly contents claims, such as a window breaking and water seeping in — just rain damage really. It’s small stuff as opposed to large.”

Mr. Osborne said Freisenbruch-Meyer had flown in two international loss adjusters from the U.K. before the hurricane but they had not been needed.

A marine loss adjuster was also due to fly to Bermuda but was no longer required.

Mr. Osborne said: “We’ve had some marine claims but our staff have been able to handle them.

“We don’t know the full extent of marine claims yet but it’s not catastrophic compared to previous storms.”

John Wight, CEO of BF&M, said: “We haven’t had too many reported claims yet.

“It seems there is a minimal amount of structural damage and it looks like we will have more marine claims than property.

“But a lot of people haven’t had an opportunity to go to their boats yet so we are expecting more claims in the next few days.

“So far we’re very pleased with the small number of claims notifications.

“It suggests the island fared very well compared to what might have happened if a stronger hurricane had come through.”

John Doherty, vice president of property and casualty at the Argus Group, said: “We’ve been handling a number of minor claims across home, marine and commercial lines of business. The volume of claims we have received is far less than the level generated in the aftermath of Hurricane Fabian.

“We are incredibly fortunate that Hurricane Igor was downgraded to a category one storm before it reached Bermuda but the marginal level of damage to property is also testimony to the diligent efforts of residents in preparing for the hurricane.

“I am certain the actions people took in securing their businesses, homes, boats and vehicles helped to keep the impact of Hurricane Igor to a minimum.”