Bill Donnell, Head of Property and Casualty, Swiss Re
Financial losses from tornadoes in the U.S. have exceeded those caused by hurricanes in four of the last five years. A new report reveals that 10 billion dollars of total insured losses were caused by tornadoes in 2013, including the one in Moore, Oklahoma, which devastated the community, and killed twenty-four people.
Bill Donnell, Head of Property and Casualty for Swiss Re, outlines ways to better protect lives and property.
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FINANCIAL LOSSES CAUSED BY TORNADOS ARE RISING BECAUSE WE ARE PLACING MORE IN HARM’S WAY. FIFTY YEARS AGO FAMILIES ONLY HAD ONE TELEVISION OR CAR BUT NOW THEY HAVE TWO OR MORE. THE MAJORITY OF THE COSTS END UP BEING PAID BY THE GOVERNMENT AND TAXPAYER SO WE NEED TO INCREASE THE RESILIENCE OF OUR COMMUNITIES. BETTER BUILDING CODES IS ONE APPROACH, BUT WHERE WE CAN’T PREVENT THE DEVASTATION, WE HAVE TO ENSURE THERE IS INSURANCE PROTECTION TO MAKE REBUILDING AS EASY AS POSSIBLE.
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To learn more, visit www.swissre.com.