When Hurricane Sandy struck the Northeastern United States in October 2012, many corporate risk managers and insurance companies were taken by surprise. Few were prepared for hurricane-force winds in Atlantic City, New Jersey, or for the storm surge that hit New York City. Total damages are estimated at more than $50 billion, making “Superstorm Sandy” the second-costliest hurricane in U.S. history.
As a result, insurers are reconsidering the pricing and terms of policies for businesses up and down the East Coast. Now that the 2013 hurricane season has arrived, Treasury & Risk asked Al Tobin, national property practice leader for Aon Risk Solutions, what finance and risk managers should be doing to prepare their businesses for the next major storm.
T&R: What impact did Hurricane Sandy have on the insurance industry in the U.S.?
Continue Reading for Free
Register and gain access to:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
