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FOR IMMEDIATE RELEASE
New York Press Office: (212) 346-5500; media@iii.org

NEW YORK, NY, July 3, 2014 — Reporters covering Hurricane Arthur can contact the (I.I.I.) with questions about how auto, home, and business insurance policies cover storm-caused damages.

Arthur today became 2014’s first Atlantic basin hurricane, according to the , and is expected to move near North Carolina’s Outer Banks tonight.

Hurricanes and tropical storms accounted for 40 percent of total U.S. insured catastrophe losses between 1993 and 2012, followed by tornadoes (36 percent), winter storms (7 percent), terrorism (6 percent), earthquakes and other geologic events (5 percent), wind/hail/flood (4 percent) and fire (2 percent).

Eight of the 10 costliest hurricanes in U.S. history have occurred over the past decade, resulting in more than $125 billion in claims paid to policyholders.

The property/casualty insurance industry enters the 2014 hurricane season with record claims paying capital on-hand. The combined capacity of all P/C insurers operating in the U.S. was $662 billion as of March 31, 2014.

The 2013 Atlantic hurricane season produced 13 tropical storms. Two of them became hurricanes (Humberto and Ingrid), making 2013 the “sixth-least active Atlantic hurricane season since 1950, in terms of collective strength and duration of named storms and hurricanes,” according to the National Oceanic and Atmospheric Administration (NOAA). A typical year produces 12 named storms, and six of them become hurricanes. A hurricane is defined by sustained wind speeds of at least 74 miles per hour.

Arthur is a reminder that the 2014 hurricane season has officially begun, and that and need to take steps now to protect their property by , of insurance. The I.I.I. website has information on and a suite of .

The following I.I.I. staff will be available via cell phone and email this weekend to answer questions and provide interviews:

Dr. Robert Hartwig

President of the I.I.I. and economist: 917-453-1885; bobh@iii.org

Michael Barry

Vice president, Media Relations: 917-923-8245; michaelb@iii.org

Bill Davis (Georgia)

Southeastern Media Representative: 770-331-9279; billjoe@bellsouth.net

Elianne González (Florida)

Hispanic Press Officer: 954-684-4410; elianneg@iii.org

Jeanne Salvatore

Senior vice president, Public Affairs, and chief communications officer: 917-612-4088; jeannes@iii.org

Loretta Worters

Vice President, Communications: 917-620-0982; lorettaw@iii.org

RELATED LINKS

• Issues Update:
• Facts and Statistics:

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