Luis R. Esteves, principal and executive general adjuster at Jansen Adjusters International & Risk Manager Consulting, is a presenting speaker at this year’s Puerto Rico Risk Management Business Solutions Summit. The virtual event, hosted by Javier Rivera Rios, founder of JR Risk Management & Associates, takes place online on Wednesday, July 15, from 9:00 to 10:30 a.m. CDT.
The summit is designed to educate business owners on the importance of emergency management planning in case of a hurricane in the Caribbean, and to define business risk management and show how to use it as a business tool for facing catastrophic and unexpected events.
Hurricane Maria, a Category 5 hurricane that struck Puerto Rico in September 2017, caused many in the business/commercial sector to deal with the harsh reality that they were not prepared to handle the magnitude of the catastrophe, which led many companies to go nearly bankrupt. New threats this year – such as earthquakes and COVID-19 – have once again posed threats to Puerto Rico’s economy. Entering what is projected to be a highly active hurricane season, countless questions remain regarding better and new answers to responding to a catastrophic event.
Many businesses discovered after Hurricane Maria that their property damage insurance policies did not necessarily meet their needs. That is why Rios organized the summit, featuring a panel of experts who can help educate and advise business owners on best practices for such critical occurrences.
In 2018, new laws were introduced and changes were made to the insurance code to better respond to these types of claims, Rios notes. Participants will learn from summit presenters how to improve their insurance coverage to adequately protect their assets against disasters, as well as ways to manage a trend towards higher premiums in the market. Presenters will share alternative and innovative solutions that exist in the insurance market aside from the traditional indemnity policy well known in Puerto Rico. The summit will also cover the important difference between an “emergency management plan” and a “business/operations continuity plan” as those terms relate to insurance coverage.
Esteves, who has more than 20 years of experience adjusting complex claims for large commercial and business properties, says of his presentation, “I hope to provide participants with the necessary measures to make sure they are fully prepared in the event of a natural disaster during this global pandemic.”