Insurance alone is not enough

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Insurance alone is not enough

• A Disasters Roundtable Workshop
• Washington, DC
• March 2, 2004
• Clive Goodwin
• Assistant Vice President
• Manager Flood Underwriting / Engineering
• FM Global

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Insurance alone is not enough
www.fmglobal.com
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Insurance alone is not enough
FM Global Value Proposition

• Our promise is to help protect the value created
  by our clients business.
• Our process is to assess and engineer risk, to
  help prevent and mitigate loss, and to provide
  capital for risk transfer purposes.

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Insurance alone is not enough
FM Global Value Proposition

• assess and engineer risk
• prevent and mitigate loss

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Insurance alone is not enough
Foundation of our Value Proposition

• Insurance without actuaries..
• Commitment to
• Knowledge development
• Understanding of hazards
• Practical cost effective solutions

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Insurance alone is not enough
We bet on our engineering

• Scientifically Based.
• . Technically Sound

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Insurance alone is not enough
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Insurance alone is not enough
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Insurance alone is not enough
What does this mean for Flood?

• Avoid Flood Zones!

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Insurance alone is not enough
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Insurance alone is not enough
Flood Maps make it Black White..
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Insurance alone is not enough
Flood Maps make it Black White..
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Insurance alone is not enough
Flood Maps make it Black White..
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Insurance alone is not enough
Flood Maps make it Black White..
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Insurance alone is not enough
Flood Maps make it Black White..
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Insurance alone is not enough
Flood Maps make it Black White..
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Insurance alone is not enough
Flood Maps make it Black White..
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Insurance alone is not enough
Flood Maps make it Black White..
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Insurance alone is not enough
FM Global Value Proposition

• assess and engineer risk
• Identify the Flood Hazard
• Quantify the Risk

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Insurance alone is not enough
FM Global Value Proposition

• prevent and mitigate loss
• Identify solutions, typically
• Physical Changes
• Emergency Pre-planning

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Insurance alone is not enough
The KEY to success

• Understanding the Hazard

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Insurance alone is not enough
The KEY to success

• Understanding the Hazard leads to smart decision
  making
• Prevention
• Mitigation
• Risk Transfer

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Insurance alone is not enough
The KEY to success

• Education and Awareness
• Limitations of available flood information
• Impact of Levees

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Insurance alone is not enough
One to remember

• Everybody gets so much information all day long
  that they loose their common sense
• Gertrude Stein

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Insurance alone is not enough

• A Disasters Roundtable Workshop
• Washington, DC
• March 2, 2004
• Clive Goodwin
• Assistant Vice President
• Manager Flood Underwriting / Engineering
• FM Global