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Mon June 2, 2014
Insurers Warn Against Complacency In Hurricane Season
Hurricane season has just begun, and insurers are gearing up to educate their customers on preparing for the storms ahead.
This is actually predicted to be a less active hurricane season than in recent years. The National Oceanic and Atmospheric Administration said we could see between three and six hurricanes between now and the end of November, and potentially eight to 13 named tropical storms.
Insurers are worried that such a prediction may lead to complacency among homeowners who live in the regular path of hurricanes in Connecticut and elsewhere on the east coast. The Consumer Federation of America is urging homeowners to buy flood insurance if they're in a risk zone, check their hurricane deductibles -- which can be much larger than deductibles for other weather events -- and make sure their homes comply with the most recent local building codes.
Meanwhile, Travelers, which has its property casualty lines of business based in Hartford, hosts a symposium on hurricane preparedness on Monday at the Dirksen Senate Office Building in Washington, D.C. It's partnering with the Insurance Institute for Business and Home Safety to highlight the importance of disaster preparation and resiliency for both businesses and families. Nearly half of the businesses questioned in a recent Travelers survey said they don't have formal continuity plans in place in the event of a disaster.