resilience reporter

resilience starts with information

Making the business case for hurricane protection

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No One Can Agree on How to Price California Home Insurance for Wildfires Image credit: Firefighters battled the Thomas Fire in Ventura, Calif., in December 2017. Photo: mark ralston/Agence France-Presse/Getty Images Full story: https://www.wsj.com/articles/no-one-can-agree-on-how-to-price-california-home-insurance-for-wildfires-11568649298

 

Hurricane Dorian Left 1.5 Billion Pounds of Debris in Marsh Harbour, Bahamas

Officials are grappling with how to deal with 1.5 billion pounds of debris left behind in Marsh Harbour after Hurricane Dorian decimated the community in Abaco, Bahamas.

The landscape was littered after Dorian with splintered homes and buildings, boats, cars and every sort of debris associated with daily life. Much of it is still there.

“We’ve done satellite imagery. We’ve done drone footage. We estimate that it’s going to be about two million cubic meters of debris.  That equates to about 1.5 billion pounds of debris so we’re identifying potential laydown sites where we can place these items,” the country’s Minister of the Environment and Housing Romauld Ferreira told reporters last week, according to the Nassau Guardian.

That number is from just one section of the areas that took the brunt of Dorian’s wrath. Ferreira said debris in Grand Bahama, for example, has been more difficult to pinpoint.

“One of the reasons that we can’t estimate, or we’ve been unable or challenged in terms of estimating debris volumes in Grand Bahama, is that a lot of the damage that happened to the homes in Grand Bahama happened internally. So, people lost … they basically have a house but the sheetrock is all damaged,” he said…

 

Making the business case for hurricane protection

Brokers can now present their clients with yet another business case for weather protection measures after new data linked hurricane damage to a drop in shareholder value.

Research commissioned by FM Global found dozens of large publicly traded companies that reported hurricane-related financial damage to the US Securities and Exchange Commission collectively lost 5% of their shareholder value over the year following the storms.

Furthermore, a separate data set found companies that followed all of FM Global’s engineering advice relating to storm protection collectively outperformed clients that hadn’t by 10%.

“The lessons are clear,” said Deborah Pretty, founding director of Pentland Analytics, the firm behind the research. “First, hurricanes damage shareholder value as well as property values. Second, property protection pays off.”…

 

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