Charley, Frances, Ivan, Jeanne, Katrina, Rita, and Wilma. Society at large might wonder if these are the latest American Idol contestants, or perhaps the newest, most popular names for babies. However, insurance claim professionals correlate these now infamous names with a group of devastating disasters that occurred over two consecutive hurricane seasons. These events justifiably focused the insurance industry on the issues generated by major hurricanes and the utter devastation they can cause.
While insurance companies, insureds, and claim professionals are now better prepared than ever for hurricane-related catastrophes, it may be that our industry has turned a blind eye to earthquakes, their effects, and the unique challenges generated by this different but perhaps more devastating catastrophe risk. The question is, have we become captives of our most recent conversation?
Just the Facts
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