Winter Risks Ahead. Winter begins in two weeks, and with it come these risks
Winter Risks Ahead. Winter begins in two weeks, and with it come these risks:
- From 1994 – 2013 insured winter storm catastrophe losses totaled more than $1 billion a year on average.
- Approximately 23% of vehicle crashes each year – nearly 1,312,000 – are weather related. 17% occur during snow or sleet.
- Water damage and freezing account for almost 22% of homeowners insurance claims, with an average of $4,024 per claim.
- Raw sewage can back up into drains when flooding from melting snow overburdens sewer systems. Although flood and sewer back-up is excluded under most standard commercial property policies, sewer back up can be added as an endorsement.
Contact KMRD Partners to identify gaps in your company’s winter risks insurance coverage.
When there is risk ahead, you can count on KMRD Partners Risk and Insurance Solutions for a common sense approach to risk management and transference through insurance coverage. KMRD Partners structured risk management process provides clients a competitive advantage, reducing their cost of risk while improving their operational efficiency.
Contact us at 866-957-KMRD to have a discussion about your risk management program.