Tuesday, December 6, 2022
HomeLife InsuranceLife and Annuity Advisors Dive Into Hurricane Ian Help, Planning

Life and Annuity Advisors Dive Into Hurricane Ian Help, Planning


What You Must Know

  • Some huge, multiline insurers have put particular notices on their web sites.
  • AICPA is encouraging companies in areas not affected by the storm to develop emergency communication and backup location plans.
  • An advertising specialist say brokers ought to have mobile-friendly catastrophe instruction messages saved on their cell telephones.

Life, well being and annuity teams are beginning to plan their response to the injury carried out by Hurricane Ian.

The Nationwide Affiliation of Insurance coverage and Monetary Advisors has began the restoration effort by encouraging members to donate to its NAIFA Household Response Fund, and by encouraging NAIFA members affected by Ian, in addition to Hurricane Fiona, which hit Puerto Rico final week, to use to the fund for help.

NAIFA president Lawrence Holzberg stated NAIFA members are there to assist shoppers when catastrophe strikes. “However we frequently neglect that brokers and advisors are additionally straight impacted by pure disasters,” Holzberg stated.

Two massive multiline insurers with massive life insurance coverage operations, Nationwide and State Farm, have additionally put hyperlinks to Ian response messages on the high of their principal web sites.

State Farm, for instance, has posted a photograph of a Hurricane Ian response claims assist workplace that’s beginning up in Birmingham, Alabama. About 100 new claims handlers are coming in each hour, the corporate says.

What It Means

Monetary companies firms organized main efforts to donate time, cash and provides to the areas hit by Hurricane Katrina in 2005, Superstorm Sandy in 2012, and different areas affected by hurricanes, wildfires, earthquakes and different main disasters.

Now, catastrophe response groups are mobilizing for the Hurricane Ian response.

Hurricane Ian’s Path of Destruction

Hurricane Ian was often called Tropical Melancholy 9 as not too long ago as Friday morning. Forecasters initially recommended that it would come ashore in the USA close to Tampa, Florida, as a powerful tropical storm.

As an alternative, the storm hit farther south, in Lee County, Florida, close to Fort Myers, and made landfall as a Class 4 hurricane. At press time, Florida officers had confirmed two storm-related deaths, however Lee County Sheriff Carmine Marceno stated on “Good Morning America” that he fears that the precise variety of deaths might be a lot greater.

The storm has been inflicting torrential rains and flooding in central Florida, and forecasters are predicting that the storm may hit Georgia and South Carolina with hurricane power.

The storm may greater than $65 billion in financial injury in Florida alone, based on RMSI, a geospatial knowledge and analytical companies type.

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