Hurricane prep: Thinking beyond the next storm

Hurricane prep: Thinking beyond the next storm

by Andrea Balfour, Deputy Senior Vice President, Intact Insurance, Atlantic Canada?

The Canadian Hurricane Centre expects an estimated 17 to 25 hurricanes to impact Atlantic Canada over 2024, an above average hurricane season for the region so recently impacted by Hurricane Fiona.??

Most Atlantic residents know the hurricane prep drill too well. They do their best to keep their homes and businesses safe – or at least safer. They anchor loose objects to the ground, from gas grills to trampolines. They check sump pumps and drains to help keep basements dry. They prepare emergency kits for possible evacuation.??

Safety measures are important. They help mitigate damage caused when a hurricane hits, but we need to do more. At Intact, we’ve been on the forefront of climate change for more than a decade. As we look at the increasing impacts of extreme weather events – an unprecedented number of which impacted many communities across Canada over the last few weeks – we ask: How can we support customers and communities not just through one natural disaster, but over the long term??


Helping individuals?

Our goal is to get your customers back on track after life’s unpredictable events, from car accidents to natural disasters. As we work with the federal and provincial governments, municipalities, regulators, industry and other stakeholders to help build resilient communities, we never lose sight of that goal. We need to be there for your customers when they need us the most.??

Over the last several years, we’ve been working hard to create a flexible claims system that can adapt to the influx of claims that follow an extreme weather event like a hurricane, while still maintaining service levels on everyday claims.??

We continue to act on lessons learned from Hurricane Fiona and other catastrophic events. Teams from across the country are reassigned to help our highest priority customers? and we have streamlined the rebuild supply chain by bringing what we can inhouse. On Side Restoration, for example, now supports as many as 50% of post-CAT property claims in impacted regions.??


Investing in adaptation?

We also need to be there for customers before the storm. Since 2010, we’ve invested more than $25 million in funding to more than 100 climate adaptation projects across Canada. Notably, our investment in the Intact Centre on Climate Adaptation, our signature partnership with the University of Waterloo, supports science-based research and implementation of practical solutions to help communities be more resilient.??

Inhouse, the Intact Risk Control team helps us deliver on our long-term prevention focus for your business customers. As part of its mandate to promote, advise and encourage best practices in prevention, the team’s 100+ risk mitigation experts help brokers and customers adapt by providing comprehensive risk analysis to businesses, from SMEs to the mid-market and beyond.??

The team is always on the lookout for innovative ways to help mitigate damage and reduce rebuild costs, and shares these with customers as part of both the virtual and physical property assessments it conducts. It also provides insight and support on practical contingency plans that help commercial customers get back to business as usual after a disruptive event.??


Supporting municipalities?

Helping municipalities adapt to climate change and build resilient communities is also critical. This is why Intact has doubled down on our investment in our Municipal Climate Resilience Grant program, committing $2 million over two years to help municipalities, registered charities and indigenous communities implement practical solutions that address the effects of extreme weather including flooding and wildfires. Applications for funding will be open from September 9, 2024 to January 31, 2025 at www.buildingresilientcommunities.com .??

The program has already funded projects such as a flood risk portal by the City of Fredericton in New Brunswick, a flood risk reduction rebate program by the City of Charlottetown in PEI, and the development of fire breaks for the Acadia First Nation’s member communities in Nova Scotia.??


What can brokers do??

Severe weather affects the communities in which we live and work. In their role as trusted advisors, brokers are perfectly positioned to educate customers about the impacts of severe weather – and, more importantly, to help keep them safe when it inevitably comes.?

Here are some things brokers can do this hurricane season to ensure customers are well-equipped to protect their homes and businesses:??

Check in with customers – Remind your customers that you’re available to advise them well before the storm:?

  • Connect them with local resources.?
  • Share hurricane preparedness and flood prevention resources (see below).?
  • Make sure they know you and their insurer are there for them if they have questions.??

Review their coverage – Whether binding a new policy or at renewal, review your customers’ coverage keeping extreme weather impacts top of mind:?

  • Do they have the basic coverages to protect their homes and businesses from hurricanes and floods???

  • Are they aware of what additional living expense and mass evacuation coverage provides in case of an evacuation???

  • Is there a coverage gap – and can you provide them with an insurance solution that addresses it???

  • Do they know how to file a claim and what to expect from the process???

Get educated on climate – The more you know about climate adaptation, the easier it is for you, in your role of trusted advisor, to recommend to your customers the coverage they need:?

  • Take advantage of courses and resources offered by your broker association.?

  • Leverage the courses and resources offered by the Intact Centre on Climate Adaptation.?

  • Keep on learning with Intact’s Pathways program.??


Resources?

As we support customers and communities through the next hurricane – or another extreme weather event – we must also work together to build community resilience over the long term. These resources can help:?

Intact Centre on Climate Adaptation resources?

Exclusive to Intact Brokers?

Pathways, the broker education program exclusive (and free) to Intact brokers, weaves climate adaptation into many of its courses. In particular, consider taking:??

  • Market trends in climate change – This 2-hour instructor-led course shows you how climate change impacts individuals, businesses and the insurance industry. Sign up for a fall session today.?

  • Enhanced Water Damage Package – This 1-hour Enhanced Water Damage Package eLearning takes you deep into Intact’s water coverage, including eligibility considerations and real claims scenarios.?

要查看或添加评论,请登录

社区洞察

其他会员也浏览了