Citizens Property Insurance Corporation is preparing for the possible impact of tropical storm Isaac.
Founded in 2002 by the US State of Florida's legislature, Citizens is a not-for-profit alternative insurer that was created to provide insurance to property owners who cannot find coverage in the private insurance market.
Depending on the path of the storm, Citizens has estimated that anywhere between 20,000 and 50,000 claims could be made as a result. Citizens is readying teams of adjusters and preparing its mobile response units to assess any damages that are caused by Isaac.
Citizens board chairman Carlos Lacasa said that the company is fully prepared for the incoming tropical storm.
"If damages result from this storm, we will quickly move into the affected areas to aid policyholders as they begin the recovery process."
Citizens has called on “300 independent adjusters, in addition to 450 adjusters currently in the field, who will begin orientation in Jacksonville in preparation for deployment following Isaac's departure from impacted areas,” said the company in a statement.
Lacasa added: "Our first concern at this point is for the safety and well being of our policyholders."
Forecasters upgraded Issac to hurricane status on 28 August, the hurricane has since been downgraded to a tropical storm. Isaac hits the Gulf Coast seven years after devastating hurricane Katrina.
