Reinsurance News

Centauri reports Ian losses ran less than halfway up its reinsurance tower

24th October 2022 - Author: Kane Wells

Jamie Sahara, President of Applied Underwriters, speaking on behalf of its sister company, Centauri, has suggested that the firm continues to stand strong following Hurricane Ian, having run less than halfway up its catastrophe reinsurance tower.

centauri-insurance-logoSahara cited the firm’s prudent reinsurance approach, as well as staff dedication as a show of commitment to homeowners and business markets following Ian’s devastation.

Centauri responded 24/7 from its Omaha service centre without any outsourced surge resources and has answered the more than 4,000 calls initially received, with an average wait time of 10 seconds to speak to a representative, says Sahara.

He also notes that as of October 24, the company completed approximately 80% of claim inspections, all done so within 5.5 days on average of intaking the claim.

Rick Espino, CEO of Centauri, observed that Applied Underwriters’ policy of dedicated resources put Centauri at the apex of the disaster and enabled its effectiveness in providing rapid relief to its insureds.

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Espino said, “We felt the effects face-to-face, as our staff manned our place at the Insurance Village set up in Fort Myers to aid communities and individuals.

“Centauri professionals were there two days, and while there were long lines at the other carriers and at FEMA, not a single customer or agent came seeking us out, validating the dedication and well-orchestrated hard work of our service centre and field personnel.

“The yearly hurricanes alone are a daunting experience, even before one considers regulations and problematic laws, so we are especially gratified that our clients were well-served, at a difficult time, in a difficult region.”

Given the company’s success, Sahara suggests it has now given impetus to new plans, adding, “We are looking presently at expanding our commitment of capital and resources to the Gulf Coast homeowners markets in the next year.

“Expect that whatever we do to seem contrarian: we’re usually going when everyone else is coming… and coming when everyone else is going.”

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