Kentucky Farm Bureau Deals With Ice few months after Hurrica

 

Friday, Mar 06,2009, 9:29:50 PM   Click:

Kentucky Farm Bureau Deals With Ice few months after Hurricane Ike claims history Chad Hemenway
The recent ice storm in Kentucky piled claims on the state's largest writer of property insurance, just a few months after the remnants of Hurricane Ike tore through the region.

"That was the biggest storm in our history," said Kentucky Farm Bureau Mutual Insurance Co. Greg Kosse Spokesperson Ike remnants of last September. The company has received about 30,000 applications.

"Now we're back at work processing applications for this ice," he said. "To say that our adjusters have been hard at work would be an understatement."

Kosse said Kentucky Farm Bureau has received about 15,000 applications for a total late January storm that dropped more than three inches of ice on some parts of the Bluegrass State. Kosse says the company is the largest writer of property insurance in Kentucky, where the owners, mobile home and agricultural policies are added.

"This has been a stream of demands," said Koss. "People are still discovering damage and call us."

Tens of thousands of residents, mostly in the western part of the state, remained without power on 9 February Kosse said. Power outages have affected more than one million people during the first storm hit, including five from Kentucky Farm Bureau offices of the applicant and more than 40 offices across the state official, Kosse said. He said that damages include loss of refrigerated products, loss of power surges, frozen pipes and branches.

Ike battered the Texas Gulf Coast September 13 and eventually made its way into the Midwest, causing more destruction. Kentucky Farm Bureau of Police has filed the largest number of claims after Ike as they had during the first eight months of 2008, Kosse said. Now the company has had more requests from customers due to the ice.

Other states affected by the storm were Arkansas and Missouri.

Allstate Allison Hatcher said spokesman experts are on the ground and mobile units are in Fayetteville, Ark., Owensboro, Ky. and Paducah, Ky.

"Experts have received reports of damage to roofs and fences because of the weight of ice on the branches," she said. There are also reports of internal water damage.

State Farm Kimberly Moore, spokesman at Kentucky, said the company received requests in 9000 in Kentucky, 6 February and expects to obtain more than the power is restored. Gary Stephenson, spokesman for State Farm operations in Arkansas, said the company had received approximately 5650 homeowners and property claims and 730 auto claims from the storm in that state (BestWire, Feb. 6, 2009) .

Kentucky Farm Bureau Mutual Insurance Co. currently has a Best's financial strength rating of A + (Superior).

The five writers of homeowners multiperil coverage in 2007 in Kentucky, according to AM Best Co. state / line product information based on direct premiums written, were: State Farm Group, with 22.3% market share ; Kentucky Farm Bureau Group, with 21.8% Allstate Insurance Group, with 10.4%, Liberty Mutual Insurance Cos., with 6.8%, and State Auto Insurance Cos., with 4.4 %.

(By Chad Hemenway, associate editor, BestWeek: Chad.Hemenway @ ambest.com)

Copyright © 2009 hours Best Company, Inc. The recent ice storm in Kentucky piled claims on the state's largest writer of property insurance, just a few months after the remnants of Hurricane Ike tore through the region. "That was the biggest storm in our history," said Kentucky Farm Bureau Mutual Insurance Co.