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Hurricane Season Finally Heating-up

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Supply chain delays could slow response

This has certainly been an unusually quiet Atlantic hurricane season so far, with no named storms in August for only the third time since 1950.  We finally had the short-lived Hurricane Danielle in the Northern Atlantic going into this past holiday weekend followed by Tropical Storm Earl, which is still hanging around the Caribbean this morning.  But as we enter the heart of hurricane season that runs now through mid-October, there’s concern that the nationwide supply chain delays could slow any storm response and recovery.

Kevin Guthrie, Florida Emergency Management Director

Florida’s Emergency Management Director Kevin Guthrie said at a recent conference that supply chain issues are becoming more of a problem, specifically in getting power restored should it go out.  “After the first incident in the country, there will be a supply chain problem,” he was quoted by the Miami Herald.  “They will be able to get the power restored, but there are certain businesses or neighborhoods that may be on a generator power for months to years.  That’s going to be problematic.”

Despite the slow start to the season, AccuWeather’s updated outlook still has a high chance for high-impact hurricanes now through the official end of hurricane season on November 30.  “If one of these systems gets into the Gulf of Mexico, watch out,” said Dan Kottlowski, their top hurricane expert. 

The miles of devastation in Miami-Dade County from Hurricane Andrew. Courtesy, FEMA

This past August 24 marked the 30th anniversary of Hurricane Andrew striking South Florida.  The Cat 5 storm killed 43 Floridians, destroyed 50,000 homes, and damaged about 100,000 others, with added death and damage into the Southeast.  It was the costliest storm in U.S. history at the time.  Global reinsurer Swiss Re estimates a current-day Andrew would cost the state four times what it did in 1992: $120 billion, at least half of that in insurance costs, given coastal population growth and development. 

While Florida learned a valuable lesson from Andrew and enacted a statewide building code that is still the model for other states, our former Emergency Management Director Craig Fugate, who went on to run FEMA for eight years, recently wrote in The Hill that the country hasn’t learned the same lesson.

“When disasters strike communities with strong and modern building codes, people have homes to come back to.  Where codes are weak, we lose lives and livelihoods, especially in low income and minority communities.  Storms tear apart the fabric of towns and can decimate local economies for years or even decades,” wrote Fugate.  He rightly points out that the cost involved in tougher codes provides a 6:1 return on investment through savings on insurance, repairs, and real estate value.

Click Image for Printable Version

September is National Preparedness Month, so please encourage your family, friends, and clients to visit Ready.gov.  I’m happy to share again our link to Lisa’s Lucky 7 Hurricane Season Prep!  On the supply chain issues, we look forward to dialogue with you our readers on how we can overcome this challenge as part of the necessary planning for storm response and recovery.  Our federal partners, FEMA and the Army Corps of Engineers, are faced with the same challenges as the insurance industry.  They are using many of the same suppliers of materials and labor.  We’re happy to assist those with further questions.  

LMA Newsletter of 9-6-22

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Tags: Atlantic Hurricane Season, Craig Fugate, Disaster Management, Florida Building code, Florida Hurricanes, Hurricane Andrew, Hurricane Danielle, Hurricane preparation, Kevin Guthrie, Tropical Storm Earl

“Thank you Lisa for staying on top of, as well as advocating, for Florida residents and legislative reform. Your newsletters are very informative and enjoy reading the points of view.”  

Shawna Miller, Sr. Claims Quality Assurance & Compliance Manager
Florida Peninsula Insurance Company
Jacksonville, FL

“Lisa Miller is a true champion for the insurance industry, with her regular updates! We appreciate all you do and keeping us up to date on priority issues!”

Gillian Lloyd, Account Executive
Zywave
Milwaukee, WI

“Your newsletter is fabulous!  I greatly appreciate the topics you expose, so that insurance professionals like myself can keep up with the latest events that affect the public we serve and ourselves.”

Cynthia Hoehn, Independent Property & Casualty Personal Lines insurance agent
Clermont, FL

“Just a quick note to let you know how much I have appreciated your newsletter over the years and the assistance they offer for those in the field of claims. We depend on the information more than you will ever know!”

Laurie Rasberry, Chief Claims Officer
Acorn Claims
Prosper, Texas

“Just wanted to say that I thoroughly love your newsletter. It’s is always informative and insightful to the ins and outs of our industry.  You are an inspiration and an important asset in the insurance world.  Keep up the great work!” 

Cynthia Scott, President
University Insurance Group
Davie, FL

“Lisa this is another great newsletter, and we appreciate the time and energy you put into these informative updates – you are on top of these topics!”

Mike Graham, CEO
Smart Vent Products, Floodproofing.com, & Risk Reduction Plus
Juno Beach, FL

“Another great Newsletter on Florida industry this week.  Your service and advocacy in Florida is very important to keeping me updated and apprised of the Florida insurance laws, trends and overall environment.  Something similar is very much needed in Louisiana, too.”

Jennifer Tedesco, Esq., Claims Director
Pharos Claims Services
Orlando, FL

“I have followed your weekly newsletter and podcasts and now have a full appreciation for what you bring to this industry.  You are an inspiring force, plain and simple.  I wanted you to know that you make a difference.  Thank you for all you do!”

Jeffrey Karam, CPCU
Bradenton, FL

“Great article on Risk Rating 2.0!”

Austin Perez, Senior Policy Representative for Federal Housing, Valuation, Insurance and Commercial Issues
National Association of Realtors
Washington, D.C.

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