- Acknowledge the
claim in writing within 30 days. N.C. Gen. Stat. §58-3-100(c)
- Acknowledge
and respond to claims communications “reasonably promptly.” N.C. Gen.
Stat. §58-63-15(11)(b)
- If the Policy
requires the submission of a proof of loss, a blank form must be provided
within 15 days of the receipt of the claim. N.C. Gen. Stat. §58-3-40
- Affirm or deny
coverage within a reasonable time after receipt of proof of loss. N.C.
Gen. Stat.§ 58-63-15(11)(e)
- “Promptly”
settle claims where liability has become reasonably clear. N.C. Gen. Stat.
§58-63-15(11)(f)
- Payment of
settled claims must be made within 10 days. 11 N.C. Admin Code 4.0421(1)
- Provide a reasonable explanation of the
basis for a claim denial. N.C. Gen. Stat. §58-63-15(11)(n)
Some Additional Issues to Consider:
- A reservation
of rights should be issued as appropriate.
- Civil
Authority – Mandatory evacuations have been issued in advance of Florence.
- Service
Interruption – Power and telephone/cell service may be disrupted.
- Sue and Labor
– Businesses may shut down operations in advance.
- Adjuster
licensing- North Carolina requires that all adjusters and public adjusters
to be licensed in North Carolina. N.C. Gen. Stat. §58-33-5; N.C. Gen.
Stat. §58-33A-10. Adjusting losses without a license can be a Class 1
misdemeanor. N.C. Gen. Stat. §58-3-130. There is a provision in place that
permits the Insurance Commissioner to allow out of state adjusters to
adjust losses without the need for a North Carolina in the event of a
catastrophe. N.C. Gen. Stat. §58-33-70
- Flood hazard
zone areas—Areas identified on the Flood Insurance Rate Map can change, so
be aware of applicable policy limits by hazard zone.
- Flood and Wind
sublimits and/or deductibles.
- Definition of
“occurrence” (in case of stalled storm)
Posted by Jonathan R. MacBride and Anaysa Gallardo Stutzman
