Preparing and Protecting America from Catastrophe Press Kit
03/20/2007
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The hurricanes of 2004-05 caused unprecedented damage and directly impacted millions of Americans in Florida and throughout the Gulf Coast. As devastating as these hurricanes were, there will be more - and maybe even worse - catastrophes in the future. Consider these facts:
- Experts say hurricanes are growing more frequent and severe. We can expect decades of greater hurricane activity, with the potential to devastate coastal states from Texas to New York.
- Population growth in catastrophe-prone areas is increasing. One-third of Americans live in areas prone to earthquake risk.
- More than half of Americans live in coastal counties, an increase of 33 million people since 1980.
- Home values in catastrophe-prone areas have also been increasing. When you factor in that about half of Americans' net worth is tied up in their homes, even retirements are at risk
Clearly, Americans have more exposure to catastrophes, and more at risk, than ever before. The current system is not adequate to help our nation effectively prepare for and efficiently recover from large-scale catastrophes such as mega hurricanes and earthquakes. The time is now to develop a new system to plan ahead and provide Americans more certain protection from these catastrophes.
That's why Allstate is supporting a coalition called ProtectingAmerica.org to create a stronger public/private partnership to protect people, families, communities and our national economy more effectively from catastrophes. A stronger, coordinated cooperation will help victims recover and reduce the human, as well as financial, toll of a major catastrophe. America deserves to be better protected. That's Allstate's Stand. For more information, visit www.protectingamerica.org
Executive Conference for Property & Casualty Industry - New York City; Thomas J. Wilson, President and COO
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