{"id":377,"date":"2023-06-23T01:38:39","date_gmt":"2023-06-23T01:38:39","guid":{"rendered":"http:\/\/cherishedmemoriesstudios.com\/?p=377"},"modified":"2024-05-01T16:31:20","modified_gmt":"2024-05-01T16:31:20","slug":"weather-risk-isnt-someone-elses-problem-triple-i-executive-tells-weather-channel-viewers","status":"publish","type":"post","link":"http:\/\/cherishedmemoriesstudios.com\/index.php\/2023\/06\/23\/weather-risk-isnt-someone-elses-problem-triple-i-executive-tells-weather-channel-viewers\/","title":{"rendered":"Weather Risk Isn\u2019t \u201cSomeone Else\u2019s Problem,\u201d Triple-I Executive Tells Weather Channel Viewers"},"content":{"rendered":"<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" width=\"843\" height=\"1024\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" alt=\"\" class=\"wp-image-14162 lazyload\" data-src=\"https:\/\/www.iii.org\/insuranceindustryblog\/wp-content\/uploads\/2022\/06\/GettyImages-523566762-843x1024.jpg\"><\/figure>\n<p>Of the findings in <a href=\"https:\/\/www.iii.org\/sites\/default\/files\/docs\/pdf\/2023_q2_ho_perception_of_weather_risks.pdf\">Triple-I\u2019s recent report<\/a> on consumer perceptions of weather risk, the Weather Channel\u2019s experts were most struck by the fact that 60 percent of homeowners said they\u2019d taken no steps to prepare \u2013 so, they asked Triple-I Chief Insurance Officer <a href=\"https:\/\/www.iii.org\/about-us\/the-team\/dale-porfilio-fcas-maaa\">Dale Porfilio<\/a> for his perspective.<\/p>\n<p>Ultimately, Porfilio said, it comes down to perceptions.<\/p>\n<figure class=\"wp-block-embed-youtube wp-block-embed is-type-video is-provider-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\n<div class=\"wp-block-embed__wrapper\">\n<p><iframe loading=\"lazy\" title=\"Dale Porfilio Interview with The Weather Channel - June 21, 2023\" width=\"960\" height=\"540\" src=\"https:\/\/www.youtube.com\/embed\/qbnv6qK-Jd4?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<\/div>\n<\/figure>\n<p>\u201cTwo thirds of the people surveyed said they don\u2019t expect to be affected by weather risk in the next five years,\u201d Porfilio told the Weather Channel. \u201cIf you don\u2019t think you\u2019re going to be impacted, why would you prepare with a home evacuation plan or a home inventory?&#8221;<\/p>\n<p>Of course, anyone who is exposed to weather is exposed to weather-related risk, and it\u2019s essential for homeowners to understand and address the most relevant risks in order to protect their investments and their families.<\/p>\n<p>Porfilio also addressed a question regarding availability of flood insurance, explaining that coverage is generally available through the Federal Emergency Management Agency\u2019s <a href=\"https:\/\/www.floodsmart.gov\/rivers?gclid=Cj0KCQjw4s-kBhDqARIsAN-ipH26JVwya1nZ8j-oNuXpct6ArBGFNkNCa6cmc29jp9pPJCZ0cYr8J4EaArNdEALw_wcB&amp;gclsrc=aw.ds\">National Flood Insurance Program<\/a>, as well as a growing number of private insurers, but \u201cmight be perceived as too expensive.\u201d<\/p>\n<p>It is possible, however, that some insurers might not be willing to offer coverage in areas that have been hit repeatedly by flood.<\/p>\n<p>Awareness and preparation are key. The Triple-I survey, published in coordination with global reinsurer <a href=\"https:\/\/www.munichre.com\/us-non-life\/en.html\">Munich Re<\/a>, found that, among the 22 percent of respondents who reported understanding their level of flood risk, 78 percent said they had purchased flood insurance. The report,\u00a0<a href=\"https:\/\/www.iii.org\/sites\/default\/files\/docs\/pdf\/2023_q2_ho_perception_of_weather_risks.pdf\"><em>Homeowners Perception of Weather Risks<\/em><\/a>, provides insights into trends, behavior and how experiencing a weather event impacts consumer perceptions of future events.\u00a0<\/p>\n<p><strong><em>Learn More:<\/em><\/strong><\/p>\n<p><a href=\"https:\/\/www.iii.org\/insuranceindustryblog\/survey-suggestsfew-homeowners-prepare-for-weather-related-risks\/\">Survey Suggests Few Homeowners Prepare for Weather-Related Risks<\/a><\/p>\n<p><a href=\"https:\/\/resilience.iii.org\/resilience-blog\/floods\/climate-risk-isnt-all-about-climate-population-land-use-incentives-need-to-be-addressed\/\">Climate Risk Isn\u2019t All About Climate: Population, Land Use, Incentives Need to Be Addressed<\/a><\/p>\n<p><a href=\"https:\/\/www.capgemini.com\/insights\/research-library\/stemming-a-rising-tide-how-insurers-can-close-the-flood-protection-gap\/\">Stemming a Rising Tide: How Insurers Can Close the Flood Protection Gap<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Of the findings in Triple-I\u2019s recent report on consumer perceptions of weather risk, the Weather Channel\u2019s experts were most struck by the fact that 60 percent of homeowners said they\u2019d taken no steps to prepare \u2013 so, they asked Triple-I Chief Insurance Officer Dale Porfilio for his perspective. Ultimately, Porfilio said, it comes down to perceptions. \u201cTwo thirds of the people surveyed said they don\u2019t expect to be affected by weather risk in the next five years,\u201d Porfilio told the Weather Channel. \u201cIf you don\u2019t think you\u2019re going to be impacted, why would you prepare with a home evacuation plan or a home inventory?&#8221; Of course, anyone who is exposed to weather is exposed to weather-related risk, and it\u2019s essential for homeowners to understand and address the most relevant risks in order to protect their investments and their families. Porfilio also addressed a question regarding availability of flood insurance, explaining that coverage is generally available through the Federal Emergency Management Agency\u2019s National Flood Insurance Program, as well as a growing number of private insurers, but \u201cmight be perceived as too expensive.\u201d It is possible, however, that some insurers might not be willing to offer coverage in areas that have been hit repeatedly by flood. Awareness and preparation are key. The Triple-I survey, published in coordination with global reinsurer Munich Re, found that, among the 22 percent of respondents who reported understanding their level of flood risk, 78 percent said they had purchased flood insurance. The report,\u00a0Homeowners Perception of Weather Risks, provides insights into trends, behavior and how experiencing a weather event impacts consumer perceptions of future events.\u00a0 Learn More: Survey Suggests Few Homeowners Prepare for Weather-Related Risks Climate Risk Isn\u2019t All About Climate: Population, Land Use, Incentives Need to Be Addressed Stemming a Rising Tide: How Insurers Can Close the Flood Protection Gap<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[15],"tags":[],"_links":{"self":[{"href":"http:\/\/cherishedmemoriesstudios.com\/index.php\/wp-json\/wp\/v2\/posts\/377"}],"collection":[{"href":"http:\/\/cherishedmemoriesstudios.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cherishedmemoriesstudios.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/cherishedmemoriesstudios.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/cherishedmemoriesstudios.com\/index.php\/wp-json\/wp\/v2\/comments?post=377"}],"version-history":[{"count":1,"href":"http:\/\/cherishedmemoriesstudios.com\/index.php\/wp-json\/wp\/v2\/posts\/377\/revisions"}],"predecessor-version":[{"id":378,"href":"http:\/\/cherishedmemoriesstudios.com\/index.php\/wp-json\/wp\/v2\/posts\/377\/revisions\/378"}],"wp:attachment":[{"href":"http:\/\/cherishedmemoriesstudios.com\/index.php\/wp-json\/wp\/v2\/media?parent=377"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cherishedmemoriesstudios.com\/index.php\/wp-json\/wp\/v2\/categories?post=377"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cherishedmemoriesstudios.com\/index.php\/wp-json\/wp\/v2\/tags?post=377"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}