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The 2017 Atlantic hurricane season was a hyperactive, deadly, and extremely destructive season, featuring 17 named storms, ranking it as the most expensive on record, as stated by Bloomberg. Further, according to the National Hurricane Center, damages (insured and uninsured losses) in the United States due to hurricanes Irma (FL) and Harvey (TX, LA) amounted to a whopping $175 billion. Additionally, Hurricane Maria, which affected Puerto Rico and the US Virgin Islands, caused $90 billion in damages. 

Business ImpactEven one single hurricane can result in tremendous destruction. According to Colorado State University (CSU) 2018 is predicted to be another above-average season, with forecasters expecting 14 named storms. Seven of those are expected to become hurricanes and three are expected to be major hurricanes. Protecting the bottom line in order to remain open, or to re-open quickly after a hurricane disaster, requires taking steps now to prevent or reduce resulting damage should your business be in the path of a violent storm. 

What Can You Do?When it comes to hurricanes and tropical storms, being prepared is key. As hurricane season approaches, there are important preventative actions you can take to reduce your risk of costly damage and give you peace of mind.  

XL Catlin’s Property Risk Engineering/GAPS team can assist you with your property loss prevention any time of the year. For additional information on preventing flood-related losses at your facility, please contact one of our Property Risk Engineering Leaders.  Be sure to check out Calm Before the Storm: Facility Planning for severe weather conditions, a helpful toolkit compiled by our Property Risk Engineering team to help businesses’ weather preparedness. XL Catlin also partners with the Insurance Institute for Business & Home Safety (IBHS) to provide you information on how to mitigate the risks involved with hurricanes.

Below is an infographic and click here for some tips to help you minimize or prevent damage to your property and financial security due to hurricanes.

Hurricane impact on  business


Global Asset Protection Services, LLC, and its affiliates (“AXA XL Risk Consulting”) provides risk assessment reports and other loss prevention services, as requested. This document shall not be construed as indicating the existence or availability under any policy of coverage for any particular type of loss or damage. AXA XL Risk. We specifically disclaim any warranty or representation that compliance with any advice or recommendation in any publication will make a facility or operation safe or healthful, or put it in compliance with any standard, code, law, rule or regulation. Save where expressly agreed in writing, AXA XL Risk Consulting and its related and affiliated companies disclaim all liability for loss or damage suffered by any party arising out of or in connection with this publication, including indirect or consequential loss or damage, howsoever arising. Any party who chooses to rely in any way on the contents of this document does so at their own risk.

US- and Canada-Issued Insurance Policies

In the US, the AXA XL insurance companies are: AXA Insurance Company, Catlin Insurance Company, Inc., Greenwich Insurance Company, Indian Harbor Insurance Company, XL Insurance America, Inc., XL Specialty Insurance Company and T.H.E. Insurance Company. In Canada, coverages are underwritten by XL Specialty Insurance Company - Canadian Branch and AXA Insurance Company - Canadian branch. Coverages may also be underwritten by Lloyd’s Syndicate #2003. Coverages underwritten by Lloyd’s Syndicate #2003 are placed on behalf of the member of Syndicate #2003 by Catlin Canada Inc. Lloyd’s ratings are independent of AXA XL.
US domiciled insurance policies can be written by the following AXA XL surplus lines insurers: XL Catlin Insurance Company UK Limited, Syndicates managed by Catlin Underwriting Agencies Limited and Indian Harbor Insurance Company. Enquires from US residents should be directed to a local insurance agent or broker permitted to write business in the relevant state.