The Wall Street Journal reports the news of American business. Brian Goodman, General Counsel for the National Association of Pubic Insurance Adjusters, forwarded me a Wall Street Journal article warning that Hurricane Irene claimants should expect their insurance companies to be slow paying.
In Expect Delays With Claims, the Journal warned:
If you are filing a claim under your homeowners policy because of Hurricane Irene or another loss, brace yourself: On major claims, it could take months to get through the whole process.
The article even suggested that businesses consider hiring a public insurance adjuster:
If you have a small business, consider hiring a public insurance adjuster to assess the damage and organize your claim, which might include inventory and repair costs. The public adjuster negotiates with your insurance company and typically takes about 10% of the claim as payment.
When the Wall Street Journal, a bastion of pro-business rhetoric, admits that the insurance industry takes months to pay claims and that policyholders will benefit from hiring public insurance adjusters, people should take notice and act accordingly.
All this reporting of slow paying insurance companies can be disheartening to policyholders. There are certainly more enjoyable slow rides than the claims process: