(BRK.A), (BRK.B)
GEICO’s Catastrophe Response (CAT) teams are now on the ground in Florida.
The CAT teams include auto damage adjusters, supervisors, managers, and IT personnel that are ready to assist policyholders in the wake of Hurricane Irma.
Georgia, South Carolina, and Tennessee adjusters are also ready to assist in those areas.
GEICO is staffing drive-in claims centers throughout Florida. At the same time several hundred associates around the country are taking loss reports and answering incoming calls. As roads open and areas become more accessible GEICO adjusters are expected to see several thousand vehicles through the week.
Berkshire Hathaway’s GEICO is the top auto insurer in Florida, and has the most at risk with Hurricane Irma possibly headed for landfall on the state’s east coast.
In 2016, GEICO had a 20.68% market share of all auto policies in Florida.
© 2017 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.