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Instant Insights / Managing risks this hurricane season

Here are the insights insurance pros need to know to advise clients and navigate the 2020 hurricane season.

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Preparing for the impact of water damage

With peak-hurricane season approaching, commercial property owners need to understand their water damage risk.

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According to the Insurance Information Institute, water is the biggest threat to a home.  Approximately one in 50 homes has a property damage claim caused by water damage each year, resulting in an average insurance claim of $8,000. American Modern and Notion aim to help homeowners monitor for leaks and other events to better manage risk via Notion’s smart home platform. (Photo: iStock) According to the Insurance Information Institute, water is the biggest threat to a home.  Approximately one in 50 homes has a property damage claim caused by water damage each year, resulting in an average insurance claim of $8,000. American Modern and Notion aim to help homeowners monitor for leaks and other events to better manage risk via Notion’s smart home platform. (Photo: iStock)

With severe flooding continuing to hit parts of the Midwest and Southeast, record-breaking amounts of water have been impacting the businesses and residents in this region. In fact, flooding along the Mississippi River is the longest-lasting since the “Great Flood” in 1927.

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