Triple-I Video: U.S. Must Prepare For, And Insure Against, Natural Disasters


For immediate release
New York Press Office: (212) 346-5500;


NEW YORK, February 13, 2020 —The societal need to build resilience to natural disasters is the theme of the just-released Covered: The Story of a More Insured World, the Insurance Information Institute’s (Triple-I) newest video.

Created as a companion piece to A World Without Insurance: How Insurance Powers the Economy, the Triple-I’s latest video is part of an ongoing Insurance Information Institute campaign to educate individuals, businesses and communities about the importance of disaster preparedness and narrowing the difference between insured and uninsured losses, also known as the coverage gap. 

“The risks we all face—whether natural or man-made—are top of mind for younger generations,” said Sean Kevelighan, CEO, Triple-I. “What’s remarkable is we’re beginning to see these future leaders turn to insurance. They are beginning to understand that our 350 years of history, of managing risks of all kinds, is truly a catalyst for solutions. These solutions will result in a more resilient and protected world.”

Covered: The Story of a More Insured World illustrates the coverage gap by citing 2017’s Hurricane Harvey. Harvey brought intense winds, record-setting rainfall, and widespread flooding to Texas and Louisiana. Having made landfall initially as a Category 4 storm, Harvey subsequently caused numerous fatalities and $128 billion in economic losses. Most of them related to flooding. Yet only $31 billion of Harvey-caused damage was covered by insurance, the Triple-I’s video states. Taxpayers, individuals, and businesses paid the nearly $100 billion balance. 

“Flooding is the most common and costly natural disaster in the United States,” stated Bill McDonnell, Deputy Director, Federal Emergency Management Agency (FEMA), Region 2, Mitigation Division. “In fact, more than half of flood losses are uninsured. Studies have shown that every dollar spent on mitigation yields seven dollars saved in the wake of a disaster…homeowners need to view flood insurance as an investment in resilience. It offers a lifeline that allows people to recover faster and more fully from a disaster.” FEMA’s National Flood Insurance Program (NFIP) paid out almost $9 billion in Harvey claims to its NFIP policyholders.

Natural catastrophe-caused fatalities and property damage are among the biggest risks a society faces. Windstorms, floods and wildfires are going to happen. By building a culture of resilience, communities can reduce the likelihood of fatalities and rebuild quickly by proactively protecting their properties while also having in place the right types, and amounts, of insurance coverage, the Triple-I’s video notes.

“The insurance industry is attracting the most talented and creative people who are bringing with them new technologies, perspectives and energy to improve the tools insurers use. These breakthroughs are helping those affected by a loss while significantly improving the day-to-day customer experience,” the Triple-I’s video states, reiterating themes the organization explored in a 2016 video on insurance career opportunities.


Facts & Statistics: Flood Insurance
Spotlight On: Catastrophes and Insurance Issues

The I.I.I. has a full library of educational videos on its YouTube Channel. Information about I.I.I. mobile apps can be found here.


Insurance Information Institute, 110 William Street, New York, NY 10038; (212) 346-5500;

Back to top