Occasionally I get asked about the challenge of maintaining the momentum for positive change within the property insurance market in a year when hurricane season is relatively mild or catastrophic losses are not extreme. It is true that over time the sense of urgency from policymakers and the public can dissipate as the memories of the last major storm or crisis fade. However, at the same time the biggest benefit from a fairly normal year like 2014 is time.

The insurance industry use these periods to stress to policyholders the importance of preparing their homes for natural disasters and becoming both physically and financially ready for whatever Mother Nature has in store. Additionally, insurers can use the years when hurricanes do not hit or cat losses are moderate to build up capital reserves so they can afford to pay claims when events do occur. The quiet years also allow policymakers time to develop longer-term solutions that can ultimately strengthen homeowner insurance markets.

The enactment and enforcement of tough standards for building codes, property development and other loss prevention and mitigation requirements are key components to long-term natural catastrophe preparation and are issues we always like to see advanced. As an example, following devastating tornadoes in 2013 that ravaged central Oklahoma, this March the City of Moore took action and became the first in the nation to adopt building codes that are specifically designed to address the impact of tornadoes. According to the city, Moore's new residential building codes include requiring roof sheathing, hurricane clips or framing anchors, continuous plywood bracing and wind-resistant garage doors. The homes will be built to withstand winds up to 135 miles per hour rather than the accepted standard building requirements of 90 miles per hour.