Each year, countries across the world spend billions of dollars trying to fight natural disasters and repairing the subsequent damage. Insurance companies pay for many of these repairs because their policies cover homes, businesses, schools, hospitals, and more. Natural disasters will always occur and independent insurance adjusters will always be needed to help process claims.
Texas Disaster Claims
Texas is known for frequent tornadoes, floods, hail, severe weather, and natural disasters that often strike when we least expect them. When this happens insurance companies rely on independent insurance adjusters to process claims quickly. Then they can pay policyholders, and they can begin the process of rebuilding.
As an independent insurance adjuster, you will assess damages and claims. You will decide how much the insurance company will cover, and hopefully offer people a chance to rebuild what they’ve lost. The insurance industry is a valuable asset for the economy. It helps soothe the worry of unexpected disasters and aids people’s protection. While it is impossible to determine when a natural disaster will occur, there are still predictions we can make based on previous years and currently observable data.
Disaster Claims in Previous Years
If we take a look at the last few years, the number of disaster claims is enormous. In 2020, natural disasters cost the world $210 billion. The biggest losses were recorded by the U.S. and China, as both had to battle floods, hurricanes, and wildfires.
In the U.S. alone, the damages amounted to $95 billion in 2020. The year before had almost half, and in 2019, the losses were $51 billion. To get a better perspective, 2020 recorded a higher loss compared to 2019, which had economic losses of $166 billion. So, 2020 saw a 26.5% increase in damages. However, we can notice that the number decreases as we go further back.
The main takeaway here is that disaster claims are significantly increasing due to the rising number of natural catastrophes. Today, more than ever, people are trying to equip themselves for future misfortunes by working alongside insurance companies.
Recent Natural Disasters
We are almost halfway into 2021, and we have already experienced a number of natural disasters. Texas experienced Winter Storm Uri in February, a major ice storm that left many without heat, electricity, and water for days. Heavy rain and flooding occurred in Louisiana, Arkansas, and Texas, and many regions declared a state of emergency. Furthermore, a volcanic eruption in DR Congo forced thousands of people to flee from the region, and the damage caused by the volcano is still to be calculated.
At the same time, the Coronavirus pandemic is still active in all countries across the globe, and even with all the vaccination campaigns, it is still affecting the economy. The total number of cases passed 169 million.
2021 Training Will Prepare You to Help Others Through Disasters
Natural disasters and severe weather sometimes seem never-ending. Climate change will continue to be an issue in the coming years, and flooding will remain one of the major disasters that people will have to face. If you want to help people get through these disasters and recover from their losses, becoming an independent insurance adjuster is a great career choice. 2021 Training offers excellent online courses to get your license in just a few days. Get in touch with us today, to learn about the different packages we offer!
