WAUKESHA, Wis., April 5, 2012 /PRNewswire/ --Markel American Insurance Company raced to help manufactured home owners in Kentucky after devastating tornadoes struck early last month. On average, Markel policyholders received payment for their claim less than four days after reporting the loss to Markel.
"The storms were devastating," said Chris Allgeier, Vice President of Bolton & Company, a managing general agent for Markel American. The National Oceanic and Atmospheric Administration (NOAA) reported a total of eight tornadoes touched down that day in Kentucky alone, one of which was an EF4 tornado and stayed on the ground for 49 miles. Prior to March 2nd, the region had not experienced a tornado of that strength since 1996 or a tornado that deadly since 1974.
Allgeier continues, "Given the volume and severity of claims that we saw, I couldn't believe how quickly Markel was able to process each claim and cut a check for our customer." The average claims processing time was less than four days - starting with the day the claim was filed and ending with the day the check was sent.
Policyholder Terry R. of London, Kentucky experienced Markel's excellent claims service first hand and commented, "I filed a claim on a Monday and by the end of the day, the adjuster had been out to my home and Markel had put a check in the mail. I had the check in my hands on Tuesday. The process was quick, professional, and straightforward. I couldn't ask for any better."
Catastrophes generally pose a challenge to insurance companies given influx in the volume, severity, and time frame in which losses are reported and require action. The March 2nd tornado was no different. Lisa Kozik, Claims Manager at Markel American Insurance Company adds, "Our hearts went out to our customers when we heard about the devastation. Many of our customers either lost their homes altogether or had such significant damage that they were unable to stay in their homes until repairs were made. Our goal was to help get them back into their homes as quickly as we could."
About Markel American Insurance Company
Markel American Insurance Company, part of Markel Corporation (NYSE: MKL), is a specialty insurance provider that has offered coverage to owners of manufactured homes, vacation and seasonal homes, vacant homes, nonstandard homes, rental properties, and low value dwellings for over 35 years. Please visit www.markelamerican.com for more information.
About Markel Corporation
Markel Corporation markets and underwrites specialty insurance products and programs to a variety of niche markets. In each of these markets, the Company seeks to provide quality products and excellent customer service so that it can be a market leader. The financial goals of the Company are to earn consistent underwriting profits and superior investment returns to build shareholder value. Please visit www.markelcorp.com for more information on the Markel Group companies.
About Bolton & Company
Bolton & Company has provided special risk coverage to Independent Agents in Kentucky, Indiana, Ohio, Illinois, and Tennessee since 1965. Please visit www.boltonmga.com for more information.
SOURCE Markel American Insurance Company
