2. Group 3 Member
Ma Hnin Thiri Chaw (Roll no. 4) { Leader }
Ma May Zin Htet (Roll no. 14)
Ma Mya Myin Kyi (Roll no. 25)
Ma May Myo Mon (Roll no. 36)
Ma May Thu Naing (Roll no. 45)
Mg Thein Oo (Roll no. 53)
Ma Zin Hnin Phyu (Roll no. 57)
Ma Khine Hnin Hnin Thu (Roll no. 71)
Ma Yin Mar Naing Win (Roll no. 81)
Ma Ei Ei Phyo Zaw (Roll no. 90)
3. Content
What is hurricane?
Type of Hurricane
5 categories of Hurricane
Mitigation
Insurance Review and Hurricane Insurance
Insurance Coverage
Peril
How much insurance is enough?
How to file an insurance claim for hurricane damage?
4. What is Hurricane?
• A hurricane is a type of tropical cyclone, the general
term for all circulating weather systems over tropical
waters (counterclockwise in the Northern Hemisphere).
5. Type of Hurricane
Type Description
Tropical Depression
An organized system of clouds and thunderstorms
with a defined circulation and maximum sustained
winds of 38 mph (33 knots) or less.
Tropical Storm
An organized system of strong thunderstorms
with a defined circulation and maximum sustained
winds of 39 to 73 mph (34-63 knots).
Hurricane
An intense tropical weather system with a well-
defined circulation and maximum sustained winds
of 74 mph (64 knots) or higher. In the western
Pacific, hurricanes are called ―typhoons,‖ and
similar storms in the Indian Ocean are called
―cyclones.‖
9. Mitigation
• Mitigation is an action to avoid loss of life and
property and it may reduce your risk of becoming
a disaster victim.
• Those things are called mitigation.
• There are many low-cost actions you can take to
protect yourself, your home, or your busines from
losses.
– Protection from wind
– Protection from flood
10. Protection From Wind
• Analyze structural strengths and weaknesses of your
home.
• Retrofit your existing roof.
• Secure all outdoor furniture to prevent it from blowing
away.
• Install plywood at least 1/2'' thick or build storm
shutters to protect windows.
• Install braces to give additional support to garage
doors.
11. Protection From Flooding
• Buy flood insurance. To obtain information on flood
insurance, contact your local insurance agent.
• Move valuables and appliances out of the basement.
• Have the main breaker or fuse box and utility
meters elevated above expected flood levels.
• Heed flood warnings by leaving early and removing
belongings that may be damaged in the event of a
flood.
12. Insurance Review
Insurance Service recommends the following items for
your hurricane preparation list:
• Review insurance coverage with your agent. Know
your policy’s deductibles and how your policy handles
property that is damaged or destroyed.
• Ask your agent about ways to reduce chances of loss
or damage, such as installing hurricane shutters.
• Keep your household inventory up to date and
store it in a safe place away your home.
• Coastal residents may need several insurance
policies to protect their homes and property from all
types of damage.
13. Insurance Review
• Purchase flood insurance. Flood insurance is not
part of most hurricane and home owner’s policies.
• You cannot buy hurricane insurance after a
hurricane watch or warning has been issued.
• If you evacuate, carry your agent’s name and
phone number, policy number and insurance
company’s claims phone number with you.
14. Hurricane Insurance
• provide coverage for losses resulting from
hurricanes
• except for flood loss associated with the
hurricane.
• flood and hurricane policy are very different
insurance entities
• need to purchase both insurances to become fully
protected.
15. Hurricane Insurance
• Often limited to wind damages and does not
include flooding.
• Depending on the policy, hurricane insurance will
cover resulting
– fire or vandalism,
– hurricane clean up such as debris removal
and repairs,
– cash or replacement value of damaged
property.
• Additional Living Expenses (ALE) may also be
provided should it become necessary for you to
stay at a hotel if your home becomes unliveable.
16. Insurance Coverage
What is a Covered Property?
The four separate categories for your home, as
defined by insurance companies, are:
• 1. Dwelling – the structure of the house
• 2. Other Structures –structures that are
separate from the house, such as a tool shed or
detached garage.
17. Insurance Coverage
• 3. Personal Property includes furniture,
appliances and clothing. Not all personal property
is covered for example , money, jewelry and
firearms.
• 4. Loss of Use – When a loss occurs due to a
covered peril and the dwelling becomes
uninhabitable, the cost of additional living
expenses is covered.
18. “Open Perils” and “Named
Perils” Coverage
• A peril is a cause of loss, such as flood or wind.
• Coverage can be provided on an ―all perils‖ basis,
or a ―named perils‖ basis.
• Named Perils policies list exactly what is
covered by the policy.
• Open Perils (or All Perils) policies will list what is
excluded from coverage.
• Named Perils policies are generally more
restrictive.
19. Package Versus Peril-Specific
Coverage
• A package policy provides coverage for multiple,
but usually not all perils.
• A homeowners policy is a package policy
typically providing coverage for the perils of fire,
lightning, and extended coverage. Extended
coverage includes coverage for the perils of
windstorm, hail, explosion, riot, civil commotion,
aircraft, vehicles, smoke, vandalism, malicious
mischief, theft, and breakage of glass.
• Some policies, such as earthquake or flood
policies, provide coverage for specific perils that
are often excluded in package policies. Damages
caused by wind as a result of an hurricane may be
covered by a standard hurricane policy.
20. Personal Property Coverage
Choices
• Depending on type of policy, the different personal
property coverage options could be:
1. Replacement Cost Coverage
2. Actual Cash Value
21. How Much Insurance Is
Enough?
Depending on the type of policy, the different dwelling
coverage options could be:
• 1. Replacement Cost Coverage
• 2. Actual Cash Value
• 3. Special Payment - loss is paid before dwelling is
repaired, rebuilt or replaced.
• 4. Functional Replacement Cost or Market Value
Coverage - repairs are made using common, modern
materials and methods without deduction for depreciation
unless repairs are not made, and if a total loss, the
payment amount will be the market value of the home.
• 5. Stated Value - a selected value is established by the
insured, and this value is the limit of liability.
22. What Does Insurance-to-Value
Ratio Mean?
• This is the relationship of the amount of insurance
purchased to the replacement value of the
property.
• It is important to have an accurate assessment of
the replacement cost value of your home.
• If you do not, and then have a loss, the cost to
actually replace your home may be more than
your insurance policy will provide.
23. Ways You May Be Able To
Affect Your Premium
• A deductible is the amount of loss paid by the
policyholder before any loss is paid by the insurer.
The larger the deductible, the lower the premium.
• A policy may have different deductibles based on the
peril of the loss.
• Two type of deductible-
– 1.dollar deductable
– 2. percentage deductable
• One of the more common percentage deductibles is
the hurricane percentage deductible, which applies to
damage solely from hurricanes.
• Therefore a policyholder may have a $1,000
deductible for fire losses, but a 2% deductible for
hurricane losses. Hurricane percentage deductibles
can be very significant. ($100,000,000 loss will
occur, the policy holder will not pay if the loss is
under $2,000,000)
24. Well-known and destructive
storms
• Hurricane Katrina in 2005
• Hurricane Charley in 2004
• Hurricane Andrew in 1992.
• 2004-2005 ( two consecutive severe storm season).
• 2006 and 2007 seasons were relatively quiet and the lack
of hurricanes provided a welcome but short-term respite
• Losses from the 2008 Gulf Coast hurricanes were
significant (estimated to be approximately $11 billion)
25. How To File An Insurance Claim
For Hurricane Damage
1. Do no harm.
2. Contact your insurer.
3. Document losses.
4. Minimize damage.
5. Arrange for repairs.
6. Keep receipts.
26. 1.Do not harm
• One of the few hurricane-related deaths so far involved
someone who fell off a ladder.
• Don’t become a statistic by going out on the roof or
wading through knee-high water in your basement
(where you could get shocked by electrical current).
• Instead call for emergency help from your police or fire
department.
27. 2. Contact your insurer.
• Weather forecasters gave insurance companies enough
notice that many already have systems in place for
helping customers with claims.
28. 3. Document losses.
• Take pictures and make notes briefly describing what
happened.
29. 4. Minimize damage.
• For most people this will mean starting to dry things
out.
• Spread wet items on absorbent paper towels or on
wire racks if you have them.
• Unpack the contents of cartons that got wet.
• Use box fans to promote circulation and combat
mildew.
• If you have lost power, keep the refrigerator door
closed to reduce the chance that food will spoil.
30. 5. Arrange for repairs.
• The sequence of events—whether you contact your
insurance company first, or immediately find someone
to fix the damage–will obviously depend on whether
you’re dealing with an emergency.
• Your insurer may be able to offer a referral for tree
removal, carpet cleaning or painting restoration.
31. 6. Keep receipts.
• Most companies won’t require you to show what you
initially paid for items that have been damaged.
• But they do want to know what you spent as a
result of the loss. So if your policy covers evacuation
expenses, like hotel, transportation, meals and
clothing expenses, keep detailed records of what you
shelled out.
