Market update: Crawford set to deploy after Hurricane Matthew

Our account management teams have already made contact with a number of International (re)insurance markets with exposures in marine, energy, transport and
cargo. It remains to be seen what the full extent of damage is likely to be but domestic carriers covering risks will also be requiring Crawford’s specialist skills.

Crawford & Company® has prepared its full resources for immediate deployment following devastation left by Hurricane Matthew this week.

Our account management teams have already made contact with a number of International (re)insurance markets with exposures in marine, energy, transport and cargo. It remains to be seen what the full extent of damage is likely to be but domestic carriers covering risks will also be requiring Crawford’s specialist skills.

hurricane_from_iss

Image: By NRL/NOAA [Public domain], via Wikimedia Commons

After making landfall over Haiti and the Dominican Republic on Tuesday, the Category 4 storm moved slowly northwards in the early hours of October 5th and lost little of its destructive power, remaining a Category 4 hurricane as the center moved towards the north‐eastern coast of Cuba at about 11 p.m. Eastern Daylight Time.

Having reached maximum sustained winds over 145 mph in Haiti, the storm’s intensity had decreased by the time it reached Cuba but only marginally; winds remained a destructive 130 mph, according to the Miami‐based National Hurricane Center.

Matthew remained a significant threat on October 5th, in particular to the Bahamas, where rain and storm surge was expected to cause considerable damage as winds sustained at over 120 mph.

The NHC confirmed that Matthew is expected to be “very near” the coast of Florida by Thursday evening October 6th, before continuing northwards along the coasts of Georgia and the Carolinas. Emergencies have been declared in Florida and Georgia, with the former’s governor Rick Scott telling residents to prepare for a “major hurricane” and that “we cannot expect anything less than category 4 at this time” owing to the fact there was relatively little land in the storm’s path to slow its intensity.

Over the course of the next 3 days, Crawford Global Technical Services® will meet with representatives from most of the affected international insurers and local markets to begin the claims handling process.

“Sadly, the death toll has been severe in Haiti where the country has never recovered from the earthquake in 2010,” says Benedict Burke, Chief Client Officer, International. “Hopefully the evacuation protocols implemented at state‐wide level in the U.S. will protect lives. Our immediate priority once the state of emergency has been lifted will be to deploy teams to the affected areas and work with our associates in the Caribbean to assess the damage and begin the restoration process.”

(Re)insurers and clients requiring assistance should please contact one of the below to assist with their claim

Tom Carstens
SVP, Global Technical Services (U.S.)
T: +1 404.300.0272
M: +1 404.747.6132
thomas_cartstens@us.crawco.com

Richard Lafayette
SVP, Chief Technical Officer
Global Technical Services (U.S.)
T: +1 404.300.0260
M: +1 903.520.0305
richard_lafayette@us.crawco.com

Global Markets & London Market
Benedict Burke
Chief Client Officer, International
T: +44 207 265 4041
M: +44 7919 552624
benedict.burke@crawco.co.uk

Martin Taylor
International Adjusting
T: +44 207 265 4026
M: +44 7500 063131
martin.taylor@crawco.co.uk

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