WASHINGTON, D.C. — The Atlantic hurricane season begins on June 1 and the American Property Casualty Insurance Association (APCIA) yesterday hosted a policy briefing, entitled “Hurricane Season: Resiliency, Response, and Recovery,” on Capitol Hill to provide resources to congressional staff to assist constituents with preparing and recovering from hurricanes and other natural catastrophes.
The policy briefing is the second installment in APCIA’s Insuring America Academy. Tom Santos, APCIA’s vice president of public policy advocacy moderated the panel of experts, including Barry Franklin, regional head of risk at Zurich North America, Debra Ballen, general counsel and chief risk officer at the Insurance Institute for Business & Home Safety (IBHS), and Michelle Hawkins, severe, fire, public, and winter weather services branch chief at the National Weather Service.
“Hurricane season begins on June 1 and it is critical that individuals and communities take steps now to prepare their homes and businesses in case a major catastrophe strikes. We are pleased to partner with Zurich, IBHS, and the Weather Service to share resources to save lives, reduce the costs of disasters, and assist policyholders with preparing and recovering from natural disasters,” said Santos.
“Additionally, flood insurance is critically important to manage the flood risk associated with hurricanes and provide financial protection to recover from the devastation. We urge Congress to pass and enact a long-term reauthorization before the end of the year,” said Santos.
“The nation’s most powerful hurricanes were tropical storms three days before landfall. Evaluate what you need to do to protect your home and family now, before the start of the season,” said Hawkins.
“Hurricanes and tropical storms will find a building’s weakness. Studies show that each dollar invested in mitigation, such as stronger roofs and buildings, saves five dollars in future costs. Storms don’t have to cause disruption, displacement and loss, and force years of recovery. We encourage home and business owners to start with the roof and build stronger, depriving hurricanes of structural weakness to attack,” said Ballen.
“We know prevention is a better risk management strategy than recovery alone. Our research shows every dollar spent in preventative measures saves five dollars in future losses. At Zurich, we share what we’ve learned from studying disasters with the aim of shifting mindsets from recovery to resilience and making the communities we serve safer and more resilient,” said Franklin.
The Insuring America Academy is a series of briefings and policy discussions that bring together insurance industry thought leaders to provide a better of understanding of property casualty insurance and the current issues impacting the industry and consumers.