Peerless Insurance™ Encourages Policyholders to Get Disaster-Ready

Free, Online Resources & Tools Help Families and Businesses Survive Disasters

Keene, N.H. - June 23, 2008 – With a potential above-normal hurricane season predicted and a record number of tornadoes across the country this year, Peerless Insurance is urging policyholders in its eight-state northeast region to take important precautions to prepare for, and recover from, severe weather.

Peerless Insurance offers a free Disaster Planning Guide to consumers at www.peerless-ins.com, under the Insurance Resources tab. The guide helps homeowners develop an action plan for evacuation, details what necessities should go into an emergency kit, and explains the importance of undertaking a household inventory, among other important safety tips.

Being prepared for severe weather also means policyholders’ understanding whether or not they have adequate or enough insurance coverage. A recent survey by the National Association of Insurance Commissioners found that 28 percent of those questioned were not sure whether they purchased replacement cost or actual cash value coverage. Further, a majority responded that they do not have coverage to protect them from losses that aren’t reimbursable under standard homeowner policies, such as earthquakes, floods, or water and sewer line breaks.

“At Peerless, we recommend that our customers review their policies and coverages with their agents yearly,” said Victor Pepin, vice president, Personal Lines. “Policyholders in disaster-prone areas are especially encouraged to understand the extent of their coverage and to take precautions that will help protect themselves and their properties in the face of severe weather.”

Commercial customers and Peerless Insurance appointed agencies also have free access to Open for Business(SM), an online tool developed by the Institute for Business and Home Safety® (IBHS) that allows businesses to plan for, and recover from natural disasters. According to IBHS, at least one-fourth of all businesses never reopen following a disaster. 

“Because small businesses don’t usually have the capabilities for in-house risk assessment and developing extensive recovery plans, they are more susceptible to sudden or lengthy interruptions from a catastrophe,” said Cynthia Mehrtens, vice president, Field Claims Operations. “Open for Business is an effective solution that guides small businesses prior to, during, and after a disaster, offering protection for policyholders, their assets, and guidelines for a quick recovery.”

Commercial Lines policyholders can contact their agent for an access code and then log into the Open for Business program at www.ibhs.org/policyholder/register.asp. Once there, business owners answer questions about human resources, physical resources, and business operations, in order to build individualized property protection and recovery plans. 

Property protection plans are matched to the potential catastrophic risks that exist for a particular zip code, including hurricanes, high winds, floods, earthquakes, tornados, and wildfires. Recovery plans are based on each company’s critical business functions and the role that employees, suppliers, and vendors play in daily operations. The plans also outline how vital records, equipment, vehicles, computers, and voice/data communications can be integrated from a chosen recovery location to help a business stay open following a natural disaster.

About Peerless Insurance

With underwriting companies dating back to 1901, Peerless Insurance offers property and casualty products, including a comprehensive set of personal and commercial coverage, distributed only through appointed independent agents.  Headquartered in Keene, New Hampshire, Peerless Insurance offers insurance products in Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island, and Vermont. 

Peerless Insurance is part of Liberty Mutual Agency Markets, a business unit of Liberty Mutual Group, consisting of property and casualty and specialty insurance carriers that distribute their products and services primarily through independent agents and brokers.  Liberty Mutual Group ranks 94 on the Fortune 500 list of the largest U.S. corporations based on 2007 revenues.  The company has financial strength ratings of A (Excellent) from the A.M. Best Company, A2 (Good) from Moody’s Investors Service, and A (Strong) from Standard & Poor’s.

About the Institute for Business & Home Safety®

The mission of the Institute for Business & Home Safety (IBHS) is to reduce the social and economic effects of natural disasters and other property losses by conducting research and advocating improved construction, maintenance, and preparation practices.  Members include insurers and reinsurers that conduct business in the United States or reinsure risks located in the United States.

Open for Business(SM)   is a service mark of the Institute for Business & Home Safety. 

Contact:

Christopher Goetcheus
774-279-5923
[email protected]