It is time to name a 21st century phenomenon by which bad news or possibilities are blown out of proportion. Examples would be self-diagnosis on the web (by which sniffles can turn into brain cancer), or the appearance that events in the news are worse than they actually are. Maybe we could call it “Negativity Amplification”. We could even look at Harvey to explore it.
With the NFIP’s reauthorization delayed until at least December, there remains a few months to read about potential changes to the program. One such change was described last week in Insurance Journal – the cancellation of NFIP coverage for new homes in the Special Flood Hazard Area (SFHA).
Last week, Catherine and I were in San Diego with colleagues and friends at the WSIA (Wholesale and Surplus Insurance Association), which is the combination of NAPSLO and MGAA. Last year was my first time at this show, and everything I wrote about it last year I would write again. This year the event was held two weeks after Harvey, and while Irma continued to storm in the southeastern states. Needless to say, flood was an ubiquitous topic of conversation.
Do you ever read or watch something and say out loud: “yes”? That was my reaction to this AM Best TV clip from last week. Just a simple, out loud “yes”.
FM Global has published the Global Flood Map (or Global FM - fans of palindromes, rejoice). It is a free-to-use flood map that covers most of the world. The flood map is delivered through an easy-to-use portal, and is offered in the spirit of building awareness around flood risk. We here at the Risks of Hazard are excited to see it out there (especially since we like palindromes).