Willis Client Special Webinar Hurricane Sandy

Transcription

1 Willis Client Special Webinar Hurricane Sandy Managing Your Claim and the November 8, 2012 Recovery Process

2 Speakers Todd Jones President Willis North America Marc Hindman Chief Risk Control Officer Joe Picone Chief Claim Officer Dave Passman National Property Claim Director Joe Stavish National Property Risk Control Director David Finnis Property Practice Leader Placement Pam Ferrandino Casualty Practice Leader Placement 1

3 Agenda Willis Impact Impact on Clients Pre and Post Claim Response Loss Adjustment Part I First Response/Mitigation Coverage Considerations Time Element Considerations Lost Adjustment II FEMA/SBA Post Storm Property Risks Economic and Market Impact 2

4 Todd Jones 3

5 4 SUPER STORM SANDY

6 TRIPLE CHALLENGE FOR CLIENTS 1. Employees facing hardships 2. Property Damage 3. Still trying to serve customers 5

7 WILLIS FACED SIMILAR CHALLENGES 1. 1/3 of our employee population impacted 2. Office closures along Eastern Seaboard 3. New York and New Jersey hit the hardest 6

8 IN ADVANCE OF THE STORM: a)business continuity & Catastrophe Response Plans b)deployed all available resources STILL LOTS OF WORK TO DO: a)successful Recovery is Crucial to restoring business b)willis is committed to you c)centrally organized claims resources d)dedication and Commitment by Willis Team in responding to clients needs 7

9 Joe Picone 8

10 9 Sandy Claims

11 10 Comparison to Past Significant Storms

12 Pre-Sandy Preparations Activated our CAT Team Activated our Claim Advocacy Group (CAG) to prepare for 24/7 in take of claims. Hotline Forwarded clients our Willis Property Claim Guide, Pre/Post Hurricane Response Documents, and daily hurricane tracking alerts Activated all emergency protocols and hurricane links on willis.com Began outreach to Sr. Claim Leaders of Carriers/TPAs to set expectations for storm response Made contact with nominated property adjusters 11

13 Post-Sandy Response Located and ensured the safety of our team Relocated key NY/NJ Property Claim Resources CAG available since 10/26/2012 CAT Team meets each day at 11:00 a.m., with a triaging of cases at 4:00 p.m. First advance on Friday, 11/2 for $5MM, total advances over $25MM There is no back log in our reporting of claims Moving additional CAT Team Experts to NYCMetro Mailbox for questions, sandyresponse@willis.com 12

14 David Passman 13

15 Loss Adjustment Part I Process of determining and agreeing between an insured and insurer policy coverage, liability and damages 14

16 First Response/Mitigation Remove water Control humidity Determine nature of foreign material/remediation and environmental Control mold growth Salt water/ electrical and electronics Non-conductive oil Other mitigation 15

17 Coverage Considerations Tropical depression/storm vs. hurricane Storm surge vs. flood Deductibles and limits 16

18 Time Element Considerations Chain rule Coverage extensions: Service interruption/off premises power Orders of civil authority Ingress and egress Contingent time element Rolling blackouts Read and understand specific policy terms 17

19 Loss Adjustment Part II Reporting Develop and institute critical path to recovery Scoping and valuation Identification and use of consultants Restoration and reconstruction contractors Accountants Industrial hygienists Dispute resolution Negotiation and settlement Advance payments 18

20 FEMA / SBA FEMA and SBA websites Consultants (i.e. Witt Associates) Accountants Public Adjusters 19

21 Joe Stavish Marc Hindman 20

22 Post Storm Property Protection & Security Requires careful planning and preparation prior to initiating response and cleanup operations; element of BCP Ingress & Egress - Power shutdown and restoration Premises Safety & Security - Alarm systems - Watchman Hazard & Damage Assessment - Clean-up - Salvage Restoration - Building Envelope - Machinery and Equipment Fire protection - Utilities - IT Operations Situational awareness : exposures constantly changing!!! Repeat Risk Assessment and Recovery Prioritization 21

23 Employee Safety During Cleanup General Safety/ PPE Hazardous Chemicals Physical Stress Structural Safety Working at Heights Electrical Safety Standing/Moving water Manual Material Handling Disease Prevention Confined Space Safety 22

24 Lessons Learned & Corrective Action Enhancements proposed, approved and moved into implementation Debriefing Solution Design Implementation Continuous Improvements Crisis Management teams Develop detailed design for each solution Validate Table Top Exercise Develop metrics and tracking methods Develop design and implementation plan for each corrective action Ensure consistency with BCP Establish timelines, milestones and PRPs Conduct vendor selection(s) if applicable Obtain management approvals Implement solution elements Communicate changes Develop processes to sustain improvements Communicate frequent status/update reviews Identify and implement continuous improvement ideas 23

25 David Finnis Commentary 24

26 Pam Ferrandino Commentary 25

27 26 QUESTIONS?

28 Additional Contact Information Thank you for joining today s webinar If you have Hurricane/Storm Sandy questions: Contact your Willis Client Advocate Contact your Willis Claim and/or Risk Control Consultant us at sandyresponse@willis.com To report a Hurricane/Storm Sandy loss: Call ; 24/7 claim hotline your claim to claimcentral@willis.com For publications or questions about the webinar contact janine.collins@willis.com 27