I.I.I. Testifies on Hurricane Risk in NY City & Long Island
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This PowerPoint presentation consists of written testimony given by the Insurance Information Institute’s director of Economics and Risk Management, presented on February 27 at a public hearing held by the New York State Insurance Department on the state’s current homeowners’ insurance marketplace. The presentation examines recent assertions and claims concerning the hurricane risk exposure that New York City and Long Island are likely to face in the coming decades and reviews the latest available estimates from the National Oceanic and Atmospheric Administration on hurricane return periods for the region. The presentation also reviews the past year’s hurricane season and places it in its broader historical context. Also considered are exposure and loss data for New York City and Long Island, as well as the potential that global warming holds for possibly augmenting the frequency, intensity, and duration of hurricane activity in the Atlantic Ocean.
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