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

NEW YORK, October 17, 2014 — The Pacific and Atlantic oceans are the site this week of separate weather events that highlight the inherent risks of living on an island, according to the (I.I.I.).

In the central Pacific, more than two months after Tropical Storm Iselle made landfall on the Big Island, Tropical Storm Ana is reminding Hawaii residents of the need for the . The federal is forecasting the impact of Ana’s will be felt on the weekend of October 18-19.

Meanwhile, in the Atlantic Ocean, Hurricane Gonzalo is expected to bring severe weather to Bermuda. The I.I.I.’s is online, and allows readers to download details about the Bermuda insurance market. The nation is home to more than 65,000 people and is an important hub in the global reinsurance market. The last major hurricane to hit Bermuda directly was Hurricane Fabian, in September 2003. With winds in excess of 120 mile per hour, the storm caused an estimated $300 million in damage on the island.

Iselle struck the Big Island as a tropical storm on Friday, August 8, bringing strong winds and heavy rains to the . It had been nearly 22 years since a major hurricane hit Hawaii.

“Hurricane Iniki caused about $1.6 billion in insured losses when it devastated Kauai in September 1992 so there is historical precedent for the type of storm we saw in August, and are seeing again this week,” stated Dr. Robert Hartwig, CPCU, president of the I.I.I. and an economist.

to protect themselves from those specific natural disasters, and to supplement their home insurance policy. A hurricane is defined as a tropical storm which has achieved sustained winds of at least 74 miles per hour. Most homeowners insurance policies in Hawaii provide coverage for almost all standard perils (e.g., fire, theft, tropical storm) but exclude hurricanes. offers additional details on hurricane insurance.

A $1.6 billion loss in 1992 is equal to $2.7 billion in 2014 dollars, Dr. Hartwig added. Iniki was the third costliest hurricane to impact the United States in terms of insured losses, at the time it occurred, according to the I.I.I. Florida’s Hurricane Andrew (1992) and South Carolina’s Hurricane Hugo (1989) were the only storms to have inflicted more damage prior to Iniki, which is no longer listed among the Top 10 costliest disasters in U.S. history.

Most U.S. natural disasters involve flooding, and standard homeowners and renters policies do not cover flood-caused damage. Only a , available through either the federal government or some private insurers, can protect a homeowner, renter or business from the flooding a tropical storm causes.

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, CPCU
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

Jeanne Salvatore
Senior Vice President, Chief Communications Officer: 917-612-4088; jeannes@iii.org

Loretta Worters
Vice President, Communications: 917-620-0982; lorettaw@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

Lynne McChristian (Florida)
Media Representative: 813-480-6446; lynnem@iii.org

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Issues Updates:
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