Governor Bentley Meets with Insurance Company Executives

MONTGOMERY— Governor Robert Bentley met today with senior executives of the state’s largest property insurers to share information and ideas as the companies implement plans to handle claims related to last week’s tornadoes.

“It was an extremely productive meeting,” Governor Bentley said. “We received updates from each of the companies regarding their strategies to adjust and pay claims.”

Governor Bentley and Insurance Commissioner Jim L. Ridling met with representatives of State Farm, Alfa, Allstate, Farmers and Cotton States, which hold the largest homeowners’ insurance market share in Alabama.

“These companies represent two-thirds of the homeowners’ market in Alabama, so they will be critical to the recovery and rebuilding of the affected areas,” Governor Bentley said. “We are pleased thus far with their response, and have asked them to continue keeping their promises they’ve made to their customers. We thank them for what they’ve done, and for what they are going to do.”

Insurers have placed more than 20 mobile claims centers in 12 separate Alabama communities to help handle claims in what will be the state’s most damaging tornado outbreak in history.

“This is different than a hurricane when there is lead time for mobilization of resources,” Governor Bentley said. “There was no lead time last Wednesday. This meeting gives a chance to coordinate with the industry to see what it needs from the state in order meet its obligations to Alabama policyholders.”

Commissioner Ridling said the level of communication between the Department and industry has been positive thus far.

“I see no reason why it won’t continue,” Commissioner Ridling said. “It is for times of tragedy that we have insurance, and companies plan for these events. Plans are for the hypothetical world. What happened last week is reality, and we are pleased at the response from the companies.”