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Monday, October 12 • 1:30pm - 2:45pm
What if it Does Rain for Forty Days and Forty Nights? Maybe It's Time to Build that Ark.

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The National and Oceanographic and Atmospheric Administration predicts that sea levels could rise by more than six feet by the end of the century. Cities along the eastern seaboard like Boston, New York and Miami could be inundated by salt water during storms and unusually high tides exacerbated by erosion and destruction to property from wave action.

Flooding is not a coastal phenomenon either. Major rain producing systems and severe thunder storms can cause regional or local storm water flooding. Weather systems and snow melt can cause river network runoff, discharge and overflow.

Catastrophic floods cause widespread damage to property in the United States. Floods account for more presidential disaster declarations than any other events with over $5 billion in economic losses from flood per year. A property in a high hazard flood zone is five to seven times more likely to experience a flood event causing $100,000 or more in damages.

New FEMA flood maps with revised base flood elevation levels may lead to changes in the availability of flood insurance from the National Flood Insurance Program and private insurers. Demand for flood insurance will probably rise, the availability of adequate capacity and limits may decrease, deductibles may increase and premiums could skyrocket.

This presentation will help risk managers understand the changes in FEMA flood maps, new flood models used by insurers to assess and underwrite risk on a location and portfolio basis, and what risk managers can do from a risk control standpoint to help mitigate their institution’s exposure to Flood.

Learning Objectives:
 Benefit from this program by gaining a deeper understanding of the changes in FEMA flood maps.
 Flood modeling tools that underwriters and insurers use to manage their flood risks and set terms and price for coverage, and loss prevention measures that can be taken to help manage flood exposures.
 Attendees will learn how FEMA develops their flood maps, what goes into modeling and underwriting flood insurance, and what loss prevention devices are available to prevent a flood loss or when a flood does happen, what can be done to minimize its impact.


Speakers
avatar for Brandie Andrews

Brandie Andrews

Assistant Vice President, Consulting and Client Services, AIR Worldwide
Brandie Andrews is an assistant vice president within AIR’s consulting and client services group. Ms. Andrews has been with AIR for nine years and in that time has acted as the primary modeler for a large number of insurance, reinsurance and securitization projects. She is currently the manager of the regulatory and rating agency client services market segment. In this role Ms. Andrews ensures compliance with all regulatory requirements of... Read More →
avatar for Damual Greaves

Damual Greaves

Risk and Insurance Coordinator, Massachusetts Institute of Technology
Damual Greaves, MIT risk and insurance coordinator, has been a member of URMIA since 2007. His career began as a compliance professional at New England Financial (NEF) before joining the higher education sector in 2001. For over a decade, Mr. Greaves has used his unique understanding of MIT, its distinctive characteristics and the property casualty risk management environment to serve the goals of MIT. Mr. Greaves leads a team of MIT stakeholders... Read More →
avatar for Paul Huang

Paul Huang

Deputy Division Director, Federal Emergency Management Agency
Paul Huang is currently the acting division director of the risk analysis division within the federal insurance and mitigation administration at the Federal Emergency Management Agency (FEMA) in Washington, DC. Mr. Huang supports flood hazard mapping as part of the National Flood Insurance Program and provides overall leadership for the $200M+ risk mapping, assessment and planning (Risk MAP) program, the hazard mitigation planning program, and... Read More →
avatar for Dave Tanaka

Dave Tanaka

Senior Account Manager, FM Global
As senior account manager, FM Global, David Tanaka leads the account servicing team in supporting the strategic risk management goals and objectives of a diverse group of higher education, high-tech, pharmaceutical and healthcare clients. Through FM Global’s engineering service and by partnering with clients in loss prevention, Mr. Tanaka and the servicing team help clients reduce property loss costs and increase their business resiliency... Read More →


Monday October 12, 2015 1:30pm - 2:45pm
Minneapolis Ballroom B Hilton Minneapolis