Insured and Uninsured Claims Against Disasters

Damage or disaster events include two types of claim, namely insured and uninsured. Insured claims will require insurers to provide either the resources or payment to rectify the loss. Hence, insurance-based claims will be settled by insurance companies, wherein insurers may undertake the restoration on the insured’s behalf by using their own in-house claim management service.

Meanwhile, for those who are uninsured, there may still be a chance to reduce their loss, cost and disruption. New technology is now available to cut off the time it takes to restore properties. Owners, however, need to cooperate with their contractors and from consultants in order to develop an effective and cost-efficient recovery plan and to put back everything together fast.

Furthermore, although high value properties on flood plains are uninsurable, it is only fair to contract out restoration at pre-arranged costs with local contractors willing to minimise damage and restoration cost to mutual benefit.