Media Advisory: Insurers Respond to Ida’s Aftermath on The East Coast

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For immediate release
New York Press Office: Michael Barry, 917-923-8245, michaelb@iii.org

 

 

NEW YORK, Sept. 2, 2021—The Insurance Information Institute (Triple-I) has subject matter experts who can inform media coverage of the deadly rainfall and tornadoes which damaged vehicles and properties yesterday in multiple East Coast states.

“The frequency and intensity of extreme weather events are rising,” said Sean Kevelighan, CEO, Triple-I. “Insurers are responding with a host of strategies aimed at better understanding the risks of these events, promoting resilience, and closing the insurance protection gap.”

The Triple-I can offer insights into insurance coverage for:

·    Flood-damaged vehicles: These vehicles are covered under the optional comprehensive portion of an auto insurance policy. Nearly four out of five U.S. drivers opt to purchase this coverage

·    Flood-damaged properties: Residential and commercial properties covered under FEMA National Flood Insurance Program (NFIP) policies, or those issued by private flood insurers, will be able to file a claim for flood-caused damage.  The Triple-I’s Resilience Accelerator chronicles how many properties in each county nationwide are covered under an NFIP policy

·    Wind-damaged properties: Standard residential and commercial property insurance policies cover wind-caused damage

RELATED LINKS:

Video: Buyer Beware: Flood-Damaged Vehicles
Facts and Statistics: Hurricanes
White Paper: Flood: Beyond Risk Transfer

The Triple-I has a full library of educational videos on its YouTube Channel. Information about Triple-I mobile apps can be found here.

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