N.Y. Needs To Be Hurricane-Ready, Says IIABNY

With that possibility in mind, Ms. Emek said that the state must decide whether it wants to be proactive or reactive when it comes to dealing with disasters. She explained that more than 53 percent of the nation's population lives in coastal counties, and New York represents a significant portion of the fiscal exposure.

"This great exposure to windstorms and high property values combined makes Long Island the second highest potential for losses at $1.9 trillion–Florida being the first." She added that New York as a state surpasses Florida in terms of commercial coastal properties.

To adequately protect these properties, Ms. Emek said that New York, as well as other coastal states and the federal government, needs to focus on mitigation.

On the state level, one solution Ms. Emek recommended is adopting strong building codes. She also suggested creating a regulatory environment that would make more carriers want to do business in the state, thereby creating adequate capacity.

Ms. Emek also brought up the possibility of an "all-risk policy" that would cover all types of disasters and would be supported by a federal backstop. This type of policy, she explained, could help ensure that homeowners are adequately covered without having to purchase several different types of policies.

Ms. Emek noted the lack of flood coverage for many homeowners who are exposed to the risk, adding that more than 50 percent of properties in hurricane-prone areas are not covered for that type of disaster. By contrast, she said 95 percent of homeowners are covered for windstorm because it is a standard feature on the policy.

She noted, however, that many insurance companies are resisting the idea of all-risk policies supported by a federal backstop. "I think they…don't want the federal government stepping into their space. That's how they're viewing it."

When asked if there is political will to implement reforms refining how the country prepares for disasters, Ms. Emek responded, "I don't believe there is a political will."

This is partly because no major hurricanes hit the U.S. during this season, she said, noting that "people's memories are very short-term."

While a lack of political will may hinder storm preparations from a legislative perspective, agents were informed of steps they can take both before and immediately after a disaster to protect their businesses, and their clients' livelihoods.

Damon Gersh, president and chief executive officer of Manhattan-based Maxons Restoration, assisted in recovery efforts in the aftermath of both Sept. 11, 2001 and Hurricane Katrina. "There are a lot of similarities between 9/11 and Katrina in terms of what's happening on the ground," Mr. Gersh said.

In the wake of a disaster, he explained, people will have "a system overload" of communication issues and access issues to deal with, among others.

Finding ways to deal with these problems is particularly relevant to agents, he said, who have a special responsibility, more than other types of industries, to be there for clients. Mr. Gersh recommended that agents come up with a disaster plan that can be implemented should a catastrophe strike. He stressed the importance of backing up data and devising a system so that communication with staff is possible when e-mail is down.

He noted that his staff uses free Yahoo! accounts, so that if his server is wiped out, he can still communicate with everyone to make sure they are all safe, and to coordinate a plan of action after a disaster. "It's simple, free, and takes about 15 minutes to set up," Mr. Gersh said.

He also recommended establishing an alternative workplace in another region, for example the offices of another agent, so that relocation is possible if necessary.