Page 23 - Delaware Medical Journal - January 2018
P. 23
MSDIS CORNER
Natural Disaster Planning: Expect the Worst, Leave Nothing to Chance
Kathleen Kennelly
The best way to physically and is to be prepared in advance with a plan that considers the worst-case scenarios and leaves little to chance.
Over the past decade, thousands of U.S. property owners have experienced the devastating consequences of natural catastrophic events have increased in severity and frequency, causing billions of dollars in losses and hundreds of fatalities and injuries in recent years.
Indeed, the period from 2008 to 2015
is on record as the most expensive for insured losses from convective events, which include severe thunderstorms, Windstorm losses continue to cause the the most frequent cause for displacement; and tornadoes’ share of U.S. catastrophe losses is rising rapidly.
In addition, recent winter storm and
ocean current associated with severe weather conditions, have been unusually costly and erratic. For example, in 2015, the United States was approximately 10.1 million acres, compared to 3.8 million the previous year. Meanwhile, winter storms caused an estimated $3.5 billion in insured losses in 2015, up from $2.6 billion in 2014.
Despite these troubling trends, many homeowners are not adequately prepared for natural disasters and often place their
substantial risk.
At USI Insurance Services, the Personal Risk team has been advising clients
on ways to better prepare for natural disasters. Based on its vast experience handling natural disaster claims, the team has compiled a comprehensive disaster preparedness checklist, best practices, and key resources to help clients better manage natural disaster risks. Following are a few must-do items.
SAFEGUARD IMPORTANT DOCUMENTS
documents such as insurance declaration pages for home, auto, and other personal assets, health care coverage cards or list of legal, insurance, and contractors are an essential part of disaster planning.
The cost of labor and materials and additional living expenses while waiting for restoration of property could range from tens of thousands of dollars to more than $100,000, depending on the extent of damage and property values.
For example, while conducting a risk assessment for a client whose home was USI Personal Risk team recommended the creation of hard copies with key contacts and documents be kept at a separate work location.
USI’s advice proved critical when the
thunderstorm. Although the client and his family were forced to evacuate their work made it possible to quickly contact USI and carriers to get the claim started. As a result, the restoration of the client’s home was completed well ahead of others in the neighborhood with similar losses,
Del Med J | January 2018 | Vol. 90 | No. 1
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