Six months into the coronavirus pandemic, the insurance industry continues to adjust to changes and new ways of handling insurance claims.Property
In the latest Insurance & Law Today podcast, Wright, Constable & Skeen attorney Marie Ignozzi spoke with Peter Crosa, the CEO of Peter J. Crosa & Associates, about how the coronavirus is or is not affecting claims, as well as how adjusters are handling an extremely active hurricane season.
“The coronavirus has changed how businesses operate, but not exactly how you might expect,” shared Crosa. “There is very little happening in the field right now.”
He went on to explain that there has been a significant drop in claims activity for the last several months. “Commerce is dead or has been since the beginning of the year. Its been a terrible year for people who depend on claims volume to make their living,” he explained, citing a drop of anywhere from 50-80% in terms of the number of auto accident claims.
For independent adjusters, 2020 has been a particularly difficult year. “Were seeing two claims a month at a time that you would have 50-100 claims.”