Did you know that after a disaster, federal assistance from FEMA averages about $5,000 per household? By comparison, over the last five years, the average flood insurance claim payment was approximately $69,000. Proper insurance coverage is a vital resource to enable a fuller and speedier recovery.
Hagerty’s Executive Chairman and former FEMA Administrator, Brock Long, joined the Association of Insurance Compliance Professionals podcast with his former FEMA colleague, Paul Huang, Acting Associate Administrator, Federal Insurance and Mitigation Administration. Their discussion highlights the critical role insurance plays in the disaster recovery process and FEMA’s National Flood Insurance Program (NFIP)’s Risk Rating 2.0. They also discuss the importance of community resilience, mitigation, and financial resiliency.
For the full conversation, click here.