KANSAS CITY, Mo., Oct. 26, 2018 /PRNewswire/ -- After a year
of devastating natural catastrophes, insurance industry experts,
policymakers, scientists and environmentalists from across the
country gathered in Kansas City on
October 24 to discuss
community-focused strategies for improving natural disaster
resilience and closing the protection coverage gap at the
"Community Recovery and Resilience" leadership forum
sponsored by one of the world's leading catastrophe reinsurers,
RenaissanceRe. (NYSE: RNR).
The forum covered a number of important issues raised by the
rising risks communities across the country face from disasters,
including examining the importance of preventative measures to
prepare communities for future disasters and keep people safe, as
well as exploring how governments and community leaders can
collaborate to close the protection gap for earthquake and flood
risk, and to advance best practices for risk mitigation and
reduction.
Congressman Emanuel Cleaver
II, U.S. House of Representatives, Missouri,
said, "I'm proud this event was held in Missouri, where our communities are exposed to
many natural disasters. It's now more crucial than ever for every
Missourian and every American to know the importance of mitigating
risk to their home and property. This forum was an opportunity to
discuss the most effective techniques to prepare our communities
for what may come. A safe country means that everyone, in harm's
way, is sufficiently insured against earthquakes and floods and
prepared for disasters before they strike."
Michael Consedine, CEO of
the National Association of Insurance Commissioners (NAIC), said, "The importance of educational
events like the forum today cannot be overstated. As more powerful
storms take aim at the United
States, it is important for those living in inland areas to
have a better understanding of flood risk and management. The NAIC
supports expansion of the private flood insurance market as a
complement to the NFIP to provide more consumer choices and offer
broader coverage at potentially more affordable prices. The forum
was an important step in establishing how best to go about
this."
John Huff, President and
CEO of the Association of Bermuda Insurers & Reinsurers
(ABIR), added, "It is vital that
communities evolve after experiencing devastating natural
disasters, even if policymakers have yet to bring about the
necessary changes themselves. The Bermuda reinsurance market is proud to have
worked with communities worldwide, having paid more the
$200B to fund US disaster recovery
alone since 2009. Events like the Community Recovery and
Resilience Leadership Forum play a crucial role in helping to
educate our communities about the importance of risk adaptation and
mitigation."
Roy Wright, President and
CEO of the Insurance Institute for Business & Home Safety
(IBHS), said, "American home and
business owners are not helpless against severe weather. We have
the proven science, the know-how and the skills to build stronger
and more defensively against every weather peril. What we need is
the will to make the right choices about how and where to build
homes and workplaces so we can quickly return to them after the
storm passes. Weather risk mitigation is a proven money-saver, and
deserves strong, coordinated support from lawmakers, academics,
insurers, reinsurers, scientists and private citizens alike, which
is why forums like these are critical."
Stephen Weinstein, Group
General Counsel of RenaissanceRe and Chairman of the RenaissanceRe
Risk Sciences Foundation, the sponsor of the forum, added, "The
destruction and devastation seen this past year proved, once again,
that it is crucial for consumers and businesses nationwide to
invest in resiliency efforts. Unfortunately, natural disasters are
likely, if not guaranteed, to become more extreme in time, which is
why advanced planning is so necessary. RenaissanceRe is committed
to helping to contribute to initiatives that enhance physical and
financial resilience, keep people and communities more safe, and to
collaborating with partners in our business, government and
elsewhere to build a better understanding of natural disaster risks
and the most effective solutions to these challenges."
For more information about the Community Recovery and Resilience
Leadership Forum, please visit www.mitigationleadership.com.
About RenaissanceRe
RenaissanceRe is a global
provider of reinsurance and insurance that specializes in matching
well-structured risks with efficient sources of capital. The
Company provides property, casualty and specialty reinsurance and
certain insurance solutions to customers, principally through
intermediaries. Established in 1993, the Company has offices in
Bermuda, Ireland, Singapore, Switzerland, the United Kingdom and the United States.
About the RenaissanceRe Risk Sciences Foundation
RenaissanceRe created the RenaissanceRe Risk Sciences Foundation to
support advanced scientific research in natural catastrophes, the
development of risk mitigation and adaptive techniques to safeguard
communities, efforts that reduce the economic turmoil following
disasters, and organizations that preserve coastal and other
risk-exposed habitats. The Foundation promotes education,
preparation, adaptation, and mitigation of catastrophic risks. For
more information, visit: www.mitigationleadership.com.
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SOURCE RenaissanceRe