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Make a Plan to Reduce Your Flood Risks

The picture depicts a flooded area after a flood

WASHINGTON (June 23, 2020) – Homeowners all over the country are constantly faced with risk due to wildfires, floods, tornados, severe storms and other natural disasters. The National Association of Insurance Commissioners (NAIC) is urging consumers to be prepared. 

“Developing a plan that you can use in the event of disaster is one of the most important steps you can take to mitigate your personal and home risk,” according to Ray Farmer, NAIC President and Director of the South Carolina Department of Insurance. 

The first step in establishing a plan is understanding the risks specific to one’s area. Consumers can easily learn if they live, work or travel through areas that are prone to flooding by leveraging resources like the Federal Emergency Management Agency (FEMA) Flood Map Service Center. 

After identifying risks, policyholders should create a thorough household inventory, according to the NAIC. Tools like NAIC’s Scr.APP.book app enable users to catalog assets and store those records online, providing easy access in the event of a disaster. You can download the app from Apple’s App Store or from Google Play.  

Other critical steps in developing an effective disaster plan include: 

  • Building an emergency supply kit.  

  • Storing copies of important documents in a safe, dry place and keeping originals in a safe deposit box. 

  • Designating someone out of state to be your family contact in the event of an emergency. Make sure everyone in your family knows the contact’s address and phone number. 

The NAIC recommends purchasing flood insurance and taking preventative measures to reduce risk, such as those outlined on the NAIC’s consumer flood page and through the Insurance Institute for Business and Home Safety (IBHS) website.  

The National Association of Insurance Commissioners (NAIC) will host an hourlong #ReduceYourRisk Twitter chat Wednesday, June 24, 2020, at 2 PM EDT. The Twitter chat will be held in conjunction with state insurance departments, the Federal Emergency Management Agency (FEMA), the American Property Casualty Insurance Association (APCIA), National Insurance Crime Bureau (NCIB) and the Institute for Building and Home Safety (IBHS). 

This is an opportunity for the public to connect with disaster relief experts from the NAIC, state insurance departments and FEMA. Twitter users can ask questions, gain insight and learn the best course of action before, during and after a natural disaster. 

The NAIC will lead the conversation and respond to questions from Twitter users in real-time. The discussion will focus on hurricane preparedness.  The Twitter chat will use the hashtags: #NAICinsuranceChat and #ReduceYourRisk. 
 

About the NAIC

As part of our state-based system of insurance regulation in the United States, the National Association of Insurance Commissioners (NAIC) provides expertise, data, and analysis for insurance commissioners to effectively regulate the industry and protect consumers. The U.S. standard-setting organization is governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer reviews, and coordinate regulatory oversight. NAIC staff supports these efforts and represents the collective views of state regulators domestically and internationally. For more information, visit www.naic.org.

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