There’s a scene in the movie “This is 40” where Leslie Mann turns to her husband, played by Paul Rudd, and says, “You should care more.” Frustrated by her husband’s ambivalence, Leslie makes a simple, yet fundamental statement. Like many of us, her husband doesn’t appreciate being told what to do. And therein lies the problem (not the husband, ha)—but rather that caring shouldn’t be forced, it should be inspired. Fact is, if we don’t care, we don’t grow. But, when caring is abundantly demonstrated, it becomes infectious.
An abandoned boat takes on water on the Mississippi Gulf Coast - Image courtesy of NY Post
Hurricane Nate made landfall Saturday night as a Category 1 hurricane, packing winds of 85 MPH. Nate follows a slew of major storms, some of which have been historic. With record-setting floods and maximum sustained winds, these storms are a reminder that we need to stay prepared, and remain alert once an event is forecasted.
Hurricane Maria devastation, courtesy of the Wall Street Journal
Hurricane Maria barreled into Puerto Rico on Wednesday as a Category 4 hurricane and was the most powerful storm the island has seen in nearly a century. Earlier in the week, Maria hit the Caribbean island of Dominica as a Category 5 hurricane. Maria is the fourth major hurricane (Category 3 or more) this season and on track with NOAA’s predictions. While four major hurricanes should not come as a surprise, what has been surprising is how close together they have occurred. Maria comes on the heels of Harvey, Irma, and Jose, making it imperative that insurers work to stay ahead of these events and be prepared in a time of extreme weather uncertainty.
SpatialKey is pleased to offer its insurance clients access to market-leading political violence data from IHS Markit. IHS Markit provides comprehensive location-specific risk scores and in-depth intelligence, which is immediately available to underwriters and exposure managers within SpatialKey’s geospatial insurance analyticsplatform.
We live in a world where terrorism is a constant and unpredictable threat. Recent attacks have hit too close to home for some of us, and may make all of us feel powerless over our personal lives and businesses. Likewise, as insurers and insurance stakeholders, recent attacks remind us that we have to be smart about what we do to protect our livelihoods. It’s a business, yes, but it’s also a valued service.
Just weeks after Hurricane Harvey devastated much of Texas and Louisiana, causing record-breaking floods and rampant destruction, we’re already preparing for Hurricane Irma. The storm is projected to make landfall in Florida this weekend as at least a Category 4 hurricane. Based on wind speed, Irma is among the strongest Atlantic hurricanes on record. And, with severe damages in the Caribbean already, Irma will be one to watch very closely. In a time of chaos and uncertainty, we must all work together—insurance carriers, commercial providers, government, and scientists alike—to share as much information as we can to protect policyholders and portfolios. With this in mind, we’ve created a list of SpatialKey-specific resources as well as our top external resources:
Severe flooding in Texas caused by Hurricane Harvey (businessinsider.com)
Since progressing to Category 4 strength over the weekend, Hurricane Harvey has regressed back into a tropical storm. As predicted, rainfall and flooding have taken over as the main threats from Harvey, making this storm far from finished.
Track of Hurricane Harvey and sample portfolio exposure
When Hurricane Harvey makes its eventual landfall late Friday evening into Saturday morning, it’s expected to be the first Category 3 hurricane to hit Texas since Hurricane Bret in 1999. The storm grew quickly, with 30 mph winds developing into 80+ mph winds in just a few days.