The Friday Five - Week of April 29, 2019

by Jen Smoldt on May 3, 2019

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If you care about what’s happening in the world of property and casualty (P&C), then this is the place to be. Each week, we serve up a bite-size roundup of the latest news, hot topics, and (admittedly subjective) tidbits to keep curious insurance professionals, like you, in-the-know.

Quote of the Week:

“Our programs don’t make you whole, and that’s probably one thing that we need to say more often.” -Pete Gaynor, acting FEMA administrator

  1. They said it best... FEMA is calling on Americans to assume more responsibility for protecting themselves from natural disasters, such as carrying flood insurance. “Our programs don’t make you whole.” Get up to speed on your flood risk
  2. Whooooa → The average claims cost for flood increased 550% in the last 5 years according to our friends at Chubb. What’s this mean? More frequent and severe catastrophe events, underscore the need to help your insureds facilitate better catastrophe planning. Keep reading...
  3. In case you didn’t know...Climate is becoming a bigger and bigger part of calculating risk in our market. We have to take these things into consideration as we build out our portfolios.” Learn what flood modelers are doing to keep up with climate change
  4. You heard it here first (because we said it first): There’s a growing voice in the insurance industry around an open ecosystem and the need for greater interoperability that organizations like Oasis and Simplitium have set into motion. Keep reading...
  5. Got hurricane risk? Exposure to stalling hurricanes may be growing even if the frequency of events like Hurricane Harvey and Hurricane Florence is not. Read our 10 takeaways from the 2018 hurricane season

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