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Member, Beacon International Group, Ltd.
The path of Hurricane Irene, now a Category 3 hurricane, remains uncertain, with both New York and New Jersey potentially in the landfall zone. And a major hurricane in the Northeastern United States could prove to be more damaging than a similar storm in Florida or the Gulf Coast.
In fact, Alfred P. Tobin, managing director and national property practice leader for Aon Risk Services in New York, said that a repeat of the 1938 Long Island Express that struck New England could cause $50 billion in insured losses. That would be more than the losses from Hurricane Katrina in 2005.
Mr. Tobin offered that assessment during Business Insurance’s “Storm Warning: Is the Northeast Prepared for a Hurricane Risks?” June 2010 webinar, which also examines:
• The seriousness of the hurricane exposure in the Northeast.
• What unique windstorm exposures exist in the Northeast.
• Whether the relative infrequency of Northeastern hurricanes has bred a sense of complacency.
• The nuts and bolts of preparing for a hurricane in the Northeast and elsewhere.
View the free webinar here.