Be Informed, Be Prepared: Top Resources for Staying In-the-Know About Severe Weather

While hurricanes and blizzards may come with some fair warning, many natural disasters strike with little to no warning at all. Depending on where you reside in the United States, different types of disasters can impact your area throughout the year. The Great Plains aren’t likely to see a hurricane any time soon and tornadoes may be scarce in Alaska, but that doesn’t mean they’re free from the negative impact that comes with adverse weather. From 2011 to 2021, 90% of all counties in the United States, representing 93% of the country’s total population, suffered a weather disaster. And because many disasters can be interconnected, it’s wise to be wise about weather patterns happening throughout your region. Because Recoop Disaster Insurance is here to protect your family and your finances after disaster strikes, we wanted to share top tools to help you stay tuned into what could be coming your [...]

2024-03-12T18:25:20+00:00Tags: , |

Driving the Next Generation of Insurance Innovation

Q&A with Jim Lewis, Executive Director, Vaughan Institute of Risk Management and Insurance, University of Iowa In 2023, long-time insurance industry entrepreneur Jim Lewis was named executive director of the Vaughan Institute of Risk Management and Insurance at the University of Iowa’s Tippie College of Business. With more than 200 insurance companies based in Iowa and fewer than 60 universities in the country offering risk management and insurance programs, Lewis is tasked with inspiring the next generation of insurance and risk management industry minds, leaders and innovators to fuel Iowa’s insurance economy and the global risk management industry. Lewis is uniquely fit for the task as an Iowa alum, former instructor and someone who has co-founded and led numerous insurance and insurtech companies. He also was the former alumni director for the Global Insurance Accelerator, an international insurance incubator for insurtech start-ups, based in Des Moines. Recoop’s Chief Distribution Officer [...]

2024-02-13T18:23:28+00:00

Navigating the Storm: Natural Disaster Trends of 2023

As a new year begins, the country looks in the rearview mirror at the unprecedented challenges posed by natural disasters in 2023. The NOAA reported it as a record-breaking year for the United States with 25 separate weather disasters each exceeding $1 billion in losses. From devastating hurricanes and wildfires to severe storms and floods, communities are grappling with the increasing frequency and intensity of these events. Let’s delve into the biggest disaster trends of 2023 and see how we can enter the new year better informed and prepared. A Year in Review Rising Frequency of Extreme, Unexpected Weather Events One of the most notable trends in 2023 is the escalating frequency of extreme weather events. Climate change has resulted in more intense hurricanes and cyclones, leaving coastal areas particularly vulnerable to powerful storms and widespread damage. Changing weather patterns have also introduced new threats to regions, like the first-ever [...]

2023-12-20T22:19:28+00:00

What to Expect After Disaster Strikes

Those who have first-hand experience with natural disasters know how their impact can last well after immediate trouble has passed. Once you navigate the hurdles nature has thrown your way, attention promptly turns to getting everything back together so you can fully recover as quickly as possible. We often emphasize the preventative actions we can take in preparing for severe weather events, but what you do after disaster strikes is just as important. Let’s raise the curtain on the road to recovery after disaster strikes. Disaster Struck. Now What? Before all else, make sure that your loved ones are safe. This initial period will entail checking in on friends and family and seeking out temporary lodging if needed. Once you’ve secured your community and needs, you can begin the process of physical and financial recovery. Assess the Damages: If it is safe to do so, go around your house and [...]

The Damage Report: Unveiling the Top 10 Disaster-Prone States

Being prepared is the first step to protecting your loved ones, your home and your financial stability when disaster strikes. Severe weather can touch down at anytime, anywhere as it has only amplified in intensity and frequency over the last few years – leaving destruction in its wake. And while many homeowners and renters assume their traditional insurance policy has them covered after Mother Nature hits; they’d be surprised to know that their policy likely has major gaps that leave them having to fill it with their hard-earned emergency savings. At Recoop, we understand that the uncertainty of severe weather can be daunting, and that’s why we’re here to help. Our new series The Damage Report is designed to provide you with actionable, insightful and data-driven analysis of the top 10 states that faced the most disasters since 2000 according to the Federal Emergency Management Agency (FEMA). You may be [...]

National Preparedness Month: It’s Time To Level Up Your Disaster Resiliency Plan

Every year, September marks National Preparedness Month, FEMA’s Ready Campaign and the Ad Council’s month-long movement to raise awareness about the importance of being ready for unexpected emergencies. While preparedness can encompass various aspects of life, at Recoop Disaster Insurance, we tend to look at it through the lens of home insurance and natural disasters. In this blog, we'll delve into why National Preparedness Month serves as a great reminder to have guardrails in place to build your home’s, your family’s and your bank account’s resiliency in the face of a disaster. Expect the Unexpected One thing you can count on is that Mother Nature can be unpredictable. We’ve seen rare west coast hurricanes, ice storms in the south and more, meaning no one is immune to severe weather. In fact, in the last 10 years, 88.5% of all U.S. counties declared a natural disaster – including 95% of the [...]

Florida Has a New Resident. Recoop Is Coming to the Sunshine State!

Our team at Recoop is thrilled to announce that we’re expanding our services into Florida as of July 28. This means that now homeowners and renters in 42 states (including Washington D.C.) have access to Recoop’s first of its kind multi-peril disaster insurance that picks up where traditional policies stop. This strategic expansion is not only a pivotal move for us but also the residents of Florida, as the state led the U.S. in 2022 by racking up $116 billion in damage caused by severe weather. Our expansion also comes on the heels of other insurance providers recently announcing that they’re moving out of the state or scaling back the policies they offer significantly in an attempt to limit their risk exposure. They have pointed to climate change as the major factor increasing the strength, severity and frequency of disasters such as hurricanes, which are a known peril to hit [...]

2023-08-09T21:36:12+00:00Tags: , , |

Peril Know-How: Stamping Out the Effects of Wildfires

In years past, wildfire season was largely thought of as a summer peril; however, the effects of climate change have many experts changing their tune by calling it a year-round concern. With that in mind, the threat of wildfires still looms over many homeowners’ heads during the hot, dry summer months. Wildfires are unpredictable and containing them can be extremely challenging once they start, burning through land and buildings quickly. This leaves not only destruction in their wake, but also hefty repair bills for homeowners. The U.S. experiences an average of almost 60,000 wildfires per year, which burned 7.6 million acres of land on average between 2018 and 2023 according to the National Interagency Fire Center. A recent State Farm report estimates that 4.5 million homes are located in areas at high risk for a wildfire. Since wildfires can impact almost anyone, it’s important to prepare for the physical, emotional [...]

2023-07-10T16:17:27+00:00Tags: , , |

Save the Date: Reminder To Reevaluate Your Coverage for National Insurance Awareness Day

A holiday for insurance? Yep, you read that right. While you don’t get the day off work, National Insurance Awareness Day (June 28) serves as an important annual reminder to review your current policies in place, identify any potential gaps in your plans and update your coverage. This can give folks the peace of mind knowing they’re financially prepared for whatever Mother Nature throws their way in the next year. It’s especially important since natural disasters in 2022 totaled $165.1 billion in damages in the U.S. With household budgets already tight due to inflation, insurance policy gaps can leave homeowners left covering the costs where insurance falls short. And that can lead to financial ruin for many people across the country. Let’s take a closer look at homeowners and renters insurance this National Insurance Awareness Day with some practical tips on how to ensure you have the best policy in [...]

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