Special Report

2020 Catastrophe Preparation and Recovery

June 1 marks the beginning of hurricane season, while the peak of tornado season is March through May. Wildfire season is traditionally during the summer months, but in some states the risk is yearlong. Preparation is key to providing a timely response in order to help policyholders begin the recovery process. In this Special Report we share information on how best to prepare for natural disasters and how to recover if one damages your property.


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Californians are right to be on edge, according to this contributor. He writes, "It’s become clear the state is woefully unprepared for dealing with a catastrophic earthquake." (Shutterstock) In California’s high-risk insurance market, strategic solutions are needed to offer affordable earthquake coverage for commercial policyholders and businesses. (Photo: Shutterstock)

To say California has had a rough stretch the last number of years in the catastrophic loss world would be an understatement. But as we continue into 2020 and head into California Earthquake Preparedness Month, organizations can take steps to lessen and mitigate earthquake coverage problems.

The 2010s were the costliest decade ever for natural disaster-driven economic losses at nearly $3 trillion, according to one estimate. In particular, earthquakes pose a persistent danger to California, but most commercial insurance policies do not cover them, and according to the Department of Insurance data, fewer than 10% of commercial buildings in the state are covered by earthquake insurance.

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