Homeowners & Small Businesses

Hurricane Katrina and an Affluent New Orleans Family’s Multimillion Dollar Claim

After Hurricane Katrina passed through the City of New Orleans, one family faced the triple hardship of a seriously damaged property, relocation to another state, and a failed claims process.

While the family had property insurance, the first catastrophe claims adjuster sent by the family’s insurance company not only did not spend enough time at their home to properly value the loss; worse than that, he lacked the authority to adjust a loss that size. After two more adjusters were sent by their insurance company, the family started making calls for help. Thankfully, they chose to work with our experts.

Once engaged, our experts began gathering information and photographs taken by remediation contractors and the family’s friends before reconstruction began on the home. When our experts learned the loss was initially reported as involving a couple hundred thousand dollars of damages, they began working directly with a large loss adjuster. This adjuster worked directly for the insurance company, and was not a subcontracted independent adjuster.

The insurance company’s adjuster never saw the complete damages before reconstruction commenced. This made our experts’ task of negotiating a multimillion dollar settlement more challenging. During their first meeting with the new adjuster, it was clear he lacked experience with high net worth clients and their possessions.

Our experts prepared a well-documented, justified claim, including a detailed estimate and inventory, paid invoices and hundreds of receipts for appraised values and historical purchases. The claim should have been promptly settled. However, the adjuster was unwilling to change his position, which appeared likely to stall any settlement that would enable the family to rebuild and return home.

Our experts were tenacious, however. They immediately began contacting art appraisers the insurance company relied on, went through hundreds of pictures and identified those that would address the insurance representatives’ most significant questions and concerns.

When time came for a face-to-face meeting with the insurance company, our experts worked with the insured family late into the night, printing hundreds of pages of documents and photographs.

The two-hour meeting between the homeowners, the insurance company representatives and our two experts resulted in the payment of 100% of our multimillion dollar claim. The total was more than 10 times the amount the first adjuster reserved for the claim.

A multimillion dollar recovery. More than 10 times what the insurer initially reserved for the claim. Canopy Claims Management, Your Property Claims Department.

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