In the news: Stronger building standards must be the norm
Regardless of where you call home, we all face growing risk of damage related to extreme weather. Hurricanes, wildfires, winter storms, tornadoes and hail pose increased risk for homes, businesses and communities across the country.
According to the National Oceanic and Atmospheric Administration (NOAA), in 2022 there were 18 weather/climate disaster events with losses exceeding $1 billion each to affect the United States. These events included one wildfire event, one drought event, one flooding event, two tornado events, three tropical cyclone events and nine severe storm events. Overall, these events resulted in the deaths of 342 people, $165 billion in damage and had significant economic effects on the areas impacted.
Mark Berven, President and Chief Operating Officer, Nationwide Property & Casualty, shares his thoughts on why the Insurance Institute for Building and Home Safety fortified building standards should be the norm in Insurance Journal.
Read the full article on Insurance Journal