1. Dealing with Natural Disasters: A regulator’s perspective
Angela Nelson
Insurance Market Regulation Division

2. Overview When a disaster hits How regulators work through CAT events
What a regulator needs to know
What to do AND more importantly, what not to do

4. “A fist coming out of the sky …”
Joplin, Missouri / / 5:34 pm
EF5 multiple-vortex tornado
Single most costly tornado in US history
25% of Joplin destroyed
$3 Billion to rebuild
Seventh deadliest tornado in US history
161 fatalities
1000 injured

6. When a disaster hits State Emergency Management Governor’s Office
Insurance industry
Consumers
Media/Press
Local government
Other state insurance regulators
FEMA

7. So what are regulators doing?

8. What a regulator needs to know
What is your claim volume – received and expected?
What is your call volume?
If disaster is widespread – where is the greatest impact for the company?
Where can I send policyholders?
How can we expedite consumer complaint issues?
We need to know if companies are seeing anything unusual?
We need to know if companies run into an internal problem?
We would like to know if companies are making any across the board policy exemptions?

9. To do’s (and NOT to do’s)
Figure out the key contacts within the DOIs you deal with
Consumer Affairs, Market Conduct, and Enforcement and Licensing (adjuster issues)
Introduce yourself to these individuals BEFORE a disaster.
After a disaster, monitor your complaints for issues – data mine them.
If you know the media or a legislator has an issue – tell your regulator.
Don’t wait until the DOI calls you. If the company has developed a problem, call the DOI and tell them.
Don’t let your complaint volumes mount, be proactive.
Don’t assume. If in doubt how to handle an issue, call and ask.

10. My contact information
Angela Nelson
Director, Division of Insurance Market Regulation
Telephone: