Press Release – Hurricane Irma

As Irma Heads for the Florida Coast, Homeowners are Urged to Prioritize Safety

 Florida Insurer Olympus Insurance Company Offers Support Before, During, and After Landfall

For Immediate Release — September 9, 2017 – With a Category 3 Cape Verde Hurricane bearing down on the southwestern seaboard, and the expectation it will intensify, the entire state of Florida is under a state of emergency.  Evacuations have been ordered or recommended as far north as Fernandina Beach on the Atlantic side, and up to Aucilla River on the Gulf side.  The warning extends to the Florida Keys, Naples, Ft. Myers, the Tampa/St Petersburg area, Miami, and West Palm Beach.  With landfall expected at some point this weekend, Florida homeowners are urged to follow the advice of authorities to protect themselves and their loved ones.

“There’s little doubt that Florida will be affected – the question right now is how severely,” says Jeffrey B. Scott, CEO of Olympus Insurance. “We’ve been doing our best to provide advance support for Floridians with homes in the expected path of the storm, reminding them of best practices and making sure they know they can reach out to us through a variety of channels as soon as they need help.”

The company has been calling and sending out emails to policyholders letting them know what they can do in advance to protect themselves and their belongings, guiding them to helpful resources, and putting plans in place to continue support for Florida homeowners throughout Irma’s aftermath.

Hurricanes of this size are simply unpredictable. “We hope everyone is able to get well out of the way in time,” adds Mr. Scott. “Property damage is salvageable. Loss of human life is not. We just hope everyone is safe. That’s the top priority.”

To ensure continuity of business operations, Olympus Insurance Company proactively established remote command centers outside of Florida; as well as in Florida-based locations. Olympus will also have mobile response teams on the ground once Florida’s Department of Financial Services identifies a suitable location for insurers to set up to handle claims for customers who cannot file a claim by phone, e-mail or on-line. These fixed-locations and mobile response teams are in addition to the in-office and field catastrophe teams who are already positioning in various locations throughout Florida.

Olympus policyholders whose homes are damaged by Irma should contact Olympus first via one of the following channels:

“Olympus is prepared to expediently address our policyholders with both mobile and air state-of-the art technology to track our insureds’ property,” Mr. Scott adds. “Approximately 5% of our staff adjusters are FAA-licensed drone personnel.” Being a technology-centric insurance company provides Olympus with a competitive edge since the company can send a drone to assess damage within hours after they are allowed access to affected areas.

“This is the type of storm we plan for,” comments Mr. Scott. “We are fully prepared to meet the challenge and protect Florida homeowners.” Olympus has consistently maintained a Financial Stability Rating (FSR) of A, Exceptional, affirmed by Demotech.

“Olympus is well positioned to handle the challenges this dangerous storm will bring to bear on our state,” Mr. Scott continues. “We are a privately held company that is exceptionally conscious of risk and our obligation to meet our commitment to policyholders under these extreme circumstances. As a result, we share our risk with some of the strongest reinsurers in the world for catastrophe losses. We are prepared to aid our policyholders recover and rebuild their lives in the aftermath of this storm.”

The main concern after the storm is over and all persons are accounted for is fraud, which has been an ongoing problem in the Florida homeowners insurance market for years.  “Unfortunately, catastrophe-stricken environments often give rise to crimes of opportunity,” Mr. Scott reminds policyholders.

“After a hurricane, contractors or public adjusters may approach homeowners with promises of higher payments or no deductible, asking them to sign an Assignment of Benefits, or AOB form. These people can then use this to make fraudulent claims against the carriers, tying up resources that are urgently needed by victims of the storm.  Our message to policyholders is simple: Protect yourself by contacting Olympus first before signing or agreeing to anything.”

Olympus Insurance Company has a 24/7 claims hotline that is available to respond to customers impacted by Hurricane Irma. Policyholders can call 866-281-2242 to report their storm-related loss.

Mr. Scott reminds policyholders that: “It’s critical to note that, following a catastrophe of Hurricane Irma’s expected magnitude, our claims response team will initially focus on policyholders whose homes are uninhabitable. Thereafter, we will swiftly direct our resources to help all other policyholders whose homes were damaged by the hurricane.”

Policyholders may also report claims via email: [email protected] with the policy number in the subject line; or by filing a claim online.

Olympus Insurance Company

4200 Northcorp Parkway, Suite 400

Palm Beach Gardens, FL 33410

800.711.9386

[email protected]

www.olympusinsurance.com

 

Claims Team:

866.281.2242

[email protected]