Coastal Exposure

The arrival of Winter Storm Athena (so-named by the Weather Channel), the first Nor’easter of the season, and just nine days after Hurricane Sandy has much of the Northeast covered in snow.

Such weather events really underscore the perils of coastal living. AIR Worldwide estimates the value of insured coastal properties in hurricane-prone states at $10.2 billion in 2012, of which $3.9 billion is located in New York, New Jersey and Connecticut.

When a disaster hits, there are many layers of facts and figures that together can help us as we try to adequately describe an event.

For example, the Census Bureau has a new tool, OnTheMap for Emergency Management that helps communities prepare for an emergency. The Director’s Blog reports that the tool traced the path of Hurricane Sandy and provides information about the potentially affected population, the kinds of businesses impacted by a natural disaster, and the number and characteristics of workers, as well as where they live.

If you’re wondering how many people were impacted by Hurricane Sandy, the Director’s Blog says that almost 4.4 million people lived in counties declared as disaster areas in New Jersey, more than 11 million in New York and more than 2 million in Connecticut in 2011.

Census Bureau data also tells us that there were 479,075 business establishments in the Connecticut, New Jersey and New York counties declared major disaster areas. Total employment and annual payroll in these areas was 6.7 million and $427.4 billion respectively. These counties represent 61.2 percent of the total employment in Connecticut, 45.7 percent of total employment in New Jersey, and 59.2 percent of the total employment in New York state.

When it comes to the key role played by insurers in state economies, the Insurance Information Institute (I.I.I.) has state-specific editions of its online resource A Firm Foundation. Check out the New Jersey and New York editions for more information.

Leave a Reply

Your email address will not be published. Required fields are marked *