AUSTIN, TX — During a Texas Tribune event on Friday, Sept. 29, Texas A&M Chancellor John Sharp, named by Governor Abbott to lead the state’s recovery from Hurricane Harvey, commented that the insurance industry, specifically insurance agencies, were waiting on FEMA before paying insurance claims. Sharp said agents need to “step up” and “write a damn check.”
The Independent Insurance Agents of Texas (IIAT) would like to take the opportunity on the heels of Sharp’s comments to clarify the role of a Trusted Choice® independent agent in the claims process. “Independent agents are actively on the ground working tirelessly to help Harvey victims file and resolve insurance claims as expediently as possible,” said IIAT President & Executive Director Marit Peters. “Coordinating coverage among property, flood and wind policies, which are often insured through different companies, can be a complex process.”
Insurance companies pay claims when they are due under an insurance policy. According to the Insurance Council of Texas, insurance companies have already paid out an estimated $2 billion in insurance claims on flooded automobiles and wind damaged homes due to Harvey’s 130-mile-per-hour winds and massive flooding.
IIAT urges all Texans affected by Harvey to contact their insurance agent for assistance. FEMA has provided guidance on applying for disaster assistance at www.disasterassistance.gov and information on insurance processing for flood coverage can be found here (http://www.iiat.org/docs/default-source/government-resources/eligibility-and-flood-insurance.pdf).
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The Independent Insurance Agents of Texas (IIAT) is the nation’s largest state association of Trusted Choice® agencies. IIAT represents approximately 1,600 agencies and more than 15,000 agents and insurance professionals. Trusted Choice® independent agents represent multiple insurance companies. Since they are not employees of any single insurance company, they are advocates for insurance consumers helping them comparison shop for cost-effective and customized coverage. IIAT is also affiliated with the Independent Insurance Agents & Brokers of America and works with legislative, regulatory and judicial bodies in Texas on behalf of independent insurance agents across the state. More information on IIAT can be found online at iiat.org.