From Superstorm Sandy to Hurricane Maria: Lessons Learned and New Risks for Businesses
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(Graphic: Business Wire)
“Extensive data has shown that the global average sea level has risen by eight to nine inches, resulting in an increased severity of storm surge along the
Additional statistics recorded since Sandy include*:
- Total economic losses from Sandy total
$70bn - Sandy ranks between Hurricanes Katrina (
$160bn ) and Andrew ($48bn ) as the second costliest US hurricane, but has since been dwarfed by Hurricane Harvey ($70-108bn ) - Total economic losses are still unfolding for Hurricanes Irma and Maria
The current
“It is a certainty that as the value of property in coastal areas increases, the financial impact of storm events becomes even more substantial. As such, many insureds are paying closer attention to prevention guides in relation to high wind, flooding and storm surge events,” added Varney.
Further analysis of AGCS claims also show that windstorm claims already account for 40 percent of natural hazard claims and are already the fifth top cause of loss for industrial companies. Through a series of windstorm and flood checklists as well as loss prevention kits, AGCS routinely outlines for clients what they need to do now to protect their property and worksites against future storm events. Latest recommendations include monitoring the National Weather Services’ new Storm Surge Watch/Warning Map for
When adversity strikes, Allianz has set a high standard by delivering outstanding claims service and Superstorm Sandy was no exception. In less than six months, Allianz paid more than 80% of the claims attributed to Sandy, and altogether, Allianz paid close to 1,400 claims totaling
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Worldwide, AGCS operates in 32 countries with own units and in over 210 countries and territories through the
AGCS SE is rated AA by Standard & Poor’s and A+ by
For more information please visit www.agcs.allianz.com or follow us on Twitter @AGCS_Insurance LinkedIn and Google+.
Cautionary Note Regarding Forward-Looking Statements
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