The Natural Disaster Report, 2017-2018 Severe Hurricanes 

Hurricane recovery patterns highlight opportunities for claims and underwriting teams

After record-high insured losses from weather-related disasters over the last two years, carriers are reevaluating the need for more accurate data to better manage and assess risk.

BuildFax analyzed rebuilding activity following 11 hurricanes between 2000 and 2018, delivering deeper insights into recent storms: Hurricanes Harvey, Irma, Michael and Florence. The findings reveal:

  • Hurricane recovery averages 10.7 months, providing a window of repair work following claims payouts.
  • Hurricane preparedness increases 25 percent in 2018, an indication that certain regions may see decreased insurance risk.
  • Roof damage remains one of the most common problems amidst hurricane recovery.

Which regions bounced back the quickest following recent hurricanes and how does it compare across the last two decades? Download the report to learn more.

 

"As hurricanes increase in frequency and intensity, recovery patterns are changing based on the nature of the storm and the property risk landscape. Lever-aging key hurricane recovery and preventative activity insights in the wake of a disaster can elevate efficiencies in insurer underwriting and claims functions for future storms. This is paramount to ensuring the best experience for homeowners and assisting in a quicker economic recovery."

Jonathan Kanarek, COO, BuildFax