Hurricane Charley loss less than expected

The estimated loss resulting from Hurricane Charley, which made landfall in Florida on Friday, has been reduced from US$10-15 billion to US$5 billion by Risk Management Solutions Inc. (RMS). The risk assessment company says it revised the potential loss due to a decrease in the storm’s breadth and intensity after it made landfall. RMS says it will provide a more accurate loss estimate once data currently being collected by field operatives has been analyzed.The Insurance Information Institute (III) says that "thousands of insurance company claims adjusters" have been moved into Florida to assist with the processing of claims. "The company adjusters from out of state will reinforce the hundreds of company adjusters normally in Florida." The III notes, however, that "the ability to report a claim is difficult in many of the most severely damaged areas where there is no phone service or electric power and residents and claims adjusters have not been permitted by civil authorities to enter and assess damage".