According to nationalunderwriter.com Sharon Emek, chairperson of the Independent Insurance Agents & Brokers of New York, said, “New York State should implement measures to be proactive, rather than reactive, in dealing with the prospect of a major hurricane
hitting Long Island and New York City.”The possibility of a devastating storm hitting Long Island is high considering weather patterns and warmer waters. Long Island has “the second highest potential for property losses at $1.9 trillion – Florida being the first.”
Some of Emek’s suggestions are “on the state level adopting strong building codes and the possibility of an ‘all-risk policy’ that would cover all types of disasters and would be supported by a federal backstop.”
Emek also mentioned the “lack of flood coverage for many homeowners who are exposed to the risk, adding that more than 50 percent of properties in hurricane-prone areas are not covered for that type of disaster.”
Living on the coast seems to be an invitation for potential disaster at the hands of a large storm. Therefore at least having flood insurance will enable homeowners to rebuild. The beauty of the coast tempered with the mighty power of Mother Nature.
Related post: Are NYC & Long Island Overexposed To A Tropical Storm?
I love the coast, and I would not want to live too far from the ocean. However, looking at these insurance projections leads me to also want to live on a high mountaintop rather near the ocean, as opposed to right next to the water! Reactive measures against a hurricane hitting L.I. would be the equivalent of "recovery, not rescue." There's no excuse for being unprepared.
Jerry
Posted by: Jerry | June 13, 2008 1:52 PM | Permalink to Comment