Super storm Sandy was the largest Atlantic hurricane on record, spanning 1,100 miles, affecting 24 States from Florida to Maine and as far west as Michigan. In New Jersey and New York, the storm sure reached 14 feet above average low tide, crippling the financial center of the world. In Sandy's wake 285 dead and $70 Billion in damage. From an insurance perspective, less that 50% of those affected were insured. [Aon Benfield 2013/NOAA]
Less than one year later, torrential rains resulted in flash flood in Boulder, Colorado causing $2 Billion in damage with less than 2% of losses were insured [FEMA] In 2015, Texas and Oklahoma experienced catastrophic flooding with projected losses exceeding $3 Billion, with only 1/3 insured [Aon 2015] Here some additional statistics for consideration:
Please leave us your thoughts Bobby Bates Sterling Peaks Insurance, LLC 1048 Independent Ave Suite A205 Grand Junction, CO 81505 970-314-9188
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SPI Reflections BlogOur blog is about educating our customers and the public about important insurance information that we feel is meaningful. Archives
November 2019
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