Hurricane season is upon us, and the insurance industry is watching. We already have two tropical systems hitting the southeast on the books, and more predicted to be on the way.
This past April, severe flooding in Houston damaged over 1,000 homes and led to more than 1,200 high water rescues.
Exacerbating this, climate change is now amplifying the severity of storms and other extreme weather events, and exacerbating the flooding risks faced by millions of Americans.
|Protective measures that can prevent devastating damage
The insurance industry invests significant time and resources to prepare risk models and provide insureds with the most sophisticated crisis response plans all based on critical lessons learned from major events such as Hurricane Katrina, Hurricane Ike and Superstorm Sandy. However, with the increasing exposure, is the insurance industry doing enough to encourage protective measures that can prevent devastating damage?
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