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Adjusters Face Overwhelming Odds

As the insurance industry approaches the five-month mark from the appearance of Hurricane Charley, there is good news and bad news.

By staff Writer | Updated on August 22, 2005

As the insurance industry approaches the five-month mark from the appearance of Hurricane Charley, there is good news and bad news. The good news is that a large number of the claims filed as a result of the four hurricanes have been resolved. The bad news is that, for those claimants still waiting, frustrations are mounting and, in many cases, finances are getting tight.

“There’s a slowing process of payments and, I would say, that it’s slowed down with advance payments and even finalization of claims,” said Ray Altieri, CEO of Transco American Claims in Tampa, Fla., and two-time president of the National Association of Public Insurance Adjusters. “We have not seen a good turnover of files from the insurance carriers and it’s across the board.”

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