Church Pension Group | The New Weather Paradigm: Church Insurance on Staying Prepared

CPG Connect

The New Weather Paradigm: Church Insurance on Staying Prepared

Fall 2023

A devastating wildfire in Maui. Record-breaking snowfall in Texas. Historic flooding in Vermont. Regardless of the location or season, severe weather events are now increasingly common.

This new reality has put property insurers, such as Church Insurance Companies (CIC), under increasing financial strain. Although CIC purchases its own insurance (reinsurance) to cover its largest claims, reinsurance premiums, driven by soaring construction costs (and extraordinary weather events), have increased significantly. The result is that CIC has had to raise its premiums to cover the additional expense and meet its financial commitments.

Being prepared for extreme weather and other emergencies has never been more important, financially and otherwise. In CPG’s Disaster Preparedness: Get Ready, Stay Ready webinar, CIC experts explain how you might save time, money, and heartache when it comes to disasters and emergencies.

Church Insurance Tips for Your Episcopal Institution

  • Create a disaster response plan, identify who will implement it, and communicate it to your community.
  • Know what disasters could affect your region. Which could lead to an evacuation, and when would it be best to shelter in place?
  • Prepare an emergency kit and keep it fully stocked.
    Designate a storage area for emergency equipment and supplies.
  • Identify a safe shelter location.
  • Regularly monitor weather forecasts.
  • Know where gas and water mains are located and how to shut them off.
  • Periodically back up computer files to the cloud or an off-site location.
  • Download the FEMA app for weather alerts for up to five locations in the US.