New York has a new museum, or at least a new location for an institution. In 2016 the Whitney Museum of American Art moved down to the waterfront at the southern end of the High Line, with the new building (designed by Renzo Piano) widely lauded as a success. While most reviews and articles on the new Whitney focus on the architectural highlights and nuances, such as the design’s openness creating a seamless integration with the vibrant surrounding streets, the Atlantic published an article on its flood defenses. To wit: … the new Whitney’s most intriguing feature might be one that’s gone largely unnoticed: its custom flood-mitigation system, which was designed halfway through the museum’s construction, in the aftermath of 2012’s Hurricane Sandy, when more than five million gallons of water flooded the site.
Ivan Maddox
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Topics: Flood Risk, Private Flood, Flood News
One way to start the new year is to take a look back and see how the previous year looks now that it’s in the past (which means we’re in the future now, which is neat).
Topics: Flood Insurance, Insurance Software, Insurance Technology, Insurance Protection Gap
The Risks of Hazard would like to copy most other blogs and news outlets by concluding the year with a “Best of” edition. Below are the 10 blog posts that not only had the highest readerships, but had the most comments, caused the biggest stir, and resounded most with thought leaders.
Without any ado whatsoever (except this intro), here is the Risks of Hazard Top 10 for 2016:
10. How to Underwrite “Challenging” Flood was a post we wrote based on a Lloyd’s of London/JBA report on the flood risk in California’s Central Valley. We described how underwriters could successfully underwrite flood in the region, which was clearly something many readers wanted to know.
9. Problem: Underwriting with Accumulation Software made a statement that has since resonated loudly with many of the underwriters we talk to: they’ve been asked (for years) to underwrite with software not built for underwriting. It has been quite a realization.
Last Wednesday Fitch released their report on 2017 P&C Underwriting, and it was a pessimistic appraisal. Soft pricing, increased competition, increasing cat losses - sounds bad, doesn’t it?
Topics: Insurance Underwriting, Insurance Software, Insurance Protection Gap
The Risks of Hazard is going to try something new in January 2017, and we need your help, gentle reader.
Topics: InsitePro, Risk Management, Survey