Stakeholders

Insurers

State residential mitigation programs make it easier to fortify homes.

Brand differentiation + improved underwriting results + tangible risk management plan in action accelerating while broadening resiliency efforts. 

  • Better than prompt claims service, is helping the homeowner avoid the claim in the first place.

  • Doing good makes good business sense; reduced catastrophe losses, lower reinsurance cost.

  • Evidence a tangible climate change policy in action, with measurable, transparent benefits.

Fortifying more homes narrows the path of severe hurricane and tornado damage.

  • Narrower damage path can lessen demand surge, creating less reconstruction cost spike.

  • Lessening severe damage can reduce the volume of litigated claims, protecting insurer brand.

  • Fortified homes can lower severity of residual market assessments.

 

Strategically, there are many reasons why supporting mitigation makes a lot of sense.

  • States may administer at little or no processing cost, increasing homeowners’ incentive to fortify.

  • Efficient, approved process with certified contractors, separates insurers from responsibility.

  • Acting as catalysts spurring diverse industries to support residential mitigation inures to insurers’ benefit.

Building a state-based distribution system for wind mitigation drives home the potential if residential catastrophemitigation is implemented nationally, for all peak natural catastrophe perils.

  • National competition to develop the best ideas for residential cat mitigation for peak perils.

  • Systematic sharing of best mitigation practices among states, and diverse industries.

  • Accelerating the onset of broader mitigation because incremental progress will not move the dial.