The Details

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Catastrophe Response

Bermuda October 2014

 

  • Two Hurricanes in One Week
  • Hurricane Fay – 12th October 2014 – Hurricane Gonzalo – 17th October 2014
  • Island Wide damage estimated at US$300 to US$400 million
  • 31,000 out of 36,000 consumers without electricity
  • Roads and other infrastructure severely damaged
  • OSG appointed by local Insurers on 13th October and Lead Adjuster arrived on the Island on 14th October 2014
  • Initial damage assessment revealed significant damage and OSG Team was increased to 7 adjusters
  • Strategic plan agreed with local Insurers
  • Full administrative support provided by OSG – Ireland
  • Overall Claims Reserves set at US$30 million
  • 1,500 damaged properties surveyed by OSG in 6 weeks
  • 65% of all domestic claims agreed before 1st December 2014
  • 45% of all commercial claims agreed before 1st December 2014
  • Payments of US$14 million made during 2014

For more information on this case study, contact marketing@osg.ie or download our 2014 Annual Review for the full publication.

 

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