You probably remember the “Sand Palace,” the lone house standing after Hurricane Michael made landfall in the Florida panhandle in October.
It’s a powerful story about one man’s stand against nature’s destructive power. But the Sand Palace is also a story about insurance.
There are generally two aspects of insurance. One is to pay out claims to make people whole again after a loss. Another is to incentivize behavior that makes those losses less likely to happen. In insurance-speak, we call that “mitigation.”
Consider the Sand Palace in that context. According to an AIR Worldwide analysis, the house was built to be even more resilient than Florida’s already-stringent building codes: reinforced concrete, limited...
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The “Sand Palace”: A Poster-Child for Resilience was originally posted by ClaimsMate.com Insurance Information Resources
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