Disasters and property insurance go hand and hand. We know disasters are nothing new, but did you know property insurance is not either? The property insurance industry has been around for centuries but continues to evolve as we enter the modern landscape of coverage. What is Insurance? First, let's take a look at what insurance actually IS. Insurance helps address the reality of risk. The risk is unavoidable in … [Read more...]
The Evolution of an Industry: How Property Insurance Has Changed Through The Years
New Orleans, A Look Back
If you follow us on social media, you may have seen that our company exhibited at the RIMS Conference this past spring. RIMS is a Society for Risk Managers that has a large conference every year that travels around the country. As you can imagine, Risk Managers rely on companies like ours to provide service on a daily basis and for major disasters. Most major companies have some sort of risk management department, … [Read more...]
Epic Flooding. How Much Is Too Much?
Texas and Oklahoma residents have been praying for rain after several years of drought causing some towns to take drastic measures. This past May, everything changed, with many areas reporting more than 200 percent of their normal precipitation in just 60 days. That large amount of rain does not come without consequences. As homes and businesses throughout the region began flooding, our teams sprung into action. … [Read more...]
Storm Notes
Area-wide disasters happen all the time across the United States. At BMS CAT, we know how important it is to our customers that we are available to respond immediately to meet their needs during these events. But what does it mean when we say, We've mobilized? Our mobilization process starts way before the storm begins. Each year, our catastrophe team gets together to review our customer's needs and expectations. … [Read more...]