It's a fact: Natural catastrophes are increasing in severity and frequency. The insured damage from all natural disasters in the United States in Q1 2017 is estimated at nearly $7 billion, according Aon Benfield. Of that, about $6 billion is from severe storms. Disaster losses along the East Coast are projected to escalate in the coming years, in part because of spikes in building and property development.
With the beginning of the Atlantic Hurricane season upon us, we have an opportunity to promote community resilience by fostering greater emphasis on solutions that can save lives and prevent losses. The key to having a lasting impact is to build and grow a resilience movement.
|From Debates to Dialogues
To build a resilience movement, we need to shift the dialogue from causes to solutions.
People look at insurance as purely recovery-based. Countering this perception presents an opportunity to facilitate collaboration that will make communities more resilient when catastrophes strike. The crux of insurance's impact is in how it helps businesses, communities and individuals plan ahead. This kind of preparation helps by lowering insurance costs, reducing losses, and encouraging faster recovery and rebuilding of our cities and infrastructure.
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