Cadence Insurance Encourages Preparation for an Active ...
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Contact: Danielle Kernell Cadence Bank, N.A. 713-871-4051 direct | 713-392-7709 mobile [email protected]
Cadence Insurance Encourages Preparation for an Active Hurricane Season
Redrawn Flood Maps May Affect Home and Business Owners Nationwide HOUSTON, June 20, 2013— With the start of the six-month hurricane season that began June 1, Cadence Insurance reminds consumers and businesses that homeowners, property and flood insurance policies can provide piece-of-mind during what is forecasted to be a very active season. The National Oceanic and Atmospheric Administration’s Climate Prediction Center is predicting an active to very active season this year, with more and stronger hurricanes anticipated in the Atlantic, and is urging people to prepare. In fact, The Weather Channel compiled a list of the “10 Most Vulnerable and Overdue Hurricane Cities,” in which Houston ranks No. 5. “The risk of hurricanes and potential flooding impacts clients from Florida to Texas, across the vast majority of the area we serve,” said Reed Moraw, president, Cadence Insurance. “With NOAA’s hurricane predictions well above seasonal averages, now is the time for home and business owners to review their policies to ensure they will be covered in the event of a natural disaster.” This includes assessing the need for flood insurance. Moraw cautions home and business owners that flood maps are being redrawn by the U.S. government, making it even more important to review their coverage needs. While homeowners and property insurance policies cover storm damage, they do not cover damage from flooding, which can include structural and mechanical damage, flood debris clean-up, and damage to floor and wall surfaces. “Many people are unaware that the Federal Emergency Management Agency is updating flood hazard maps nationwide in an effort to reduce risk to lives and properties,” Moraw said. “These changes could make flood insurance a necessity for homeowners and businesses where it previously was not needed.” As updated flood maps are released and go into effect – a process that will continue over the next few years – communities across the country should be prepared for increased insurance requirements. In New York, where redrawn maps were released earlier this year, the number of homes and businesses in flood zones doubled. “The potential impact of these changes is tremendous,” Moraw added. “Compounded by the hurricane threat facing many of our Gulf Coast communities, we could see a lot of homes and business affected.”
About Cadence Bank Cadence Bank, N.A., based in Birmingham, Ala., is a $5.7 billion bank with more than 100 locations in Alabama, Florida, Georgia, Mississippi, Tennessee and Texas. Backed by 126 years of financial expertise, Cadence serves commercial and consumer clients with a full range of innovative banking and financial solutions designed to keep pace with their lives. These products and services include commercial and consumer banking, small business banking, treasury management, international banking, specialized lending, commercial real estate, wealth management, investment and trust services, financial planning, retirement plan management, business and personal insurance, consumer loans, mortgages, home equity lines and loans, and credit cards. Cadence Bank and its affiliates, Linscomb & Williams and Cadence Insurance Agency, are wholly owned subsidiaries of Houston-based Cadence Bancorp, LLC. Additional information about Cadence Bank is available at cadencebank.com. Cadence Bank, N.A. Member FDIC. Equal Housing Lender.
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Contact: Danielle Kernell Cadence Bank, N.A. 713-871-4051 direct | 713-392-7709 mobile [email protected]
Cadence Insurance Encourages Preparation for an Active Hurricane Season
Redrawn Flood Maps May Affect Home and Business Owners Nationwide HOUSTON, June 20, 2013— With the start of the six-month hurricane season that began June 1, Cadence Insurance reminds consumers and businesses that homeowners, property and flood insurance policies can provide piece-of-mind during what is forecasted to be a very active season. The National Oceanic and Atmospheric Administration’s Climate Prediction Center is predicting an active to very active season this year, with more and stronger hurricanes anticipated in the Atlantic, and is urging people to prepare. In fact, The Weather Channel compiled a list of the “10 Most Vulnerable and Overdue Hurricane Cities,” in which Houston ranks No. 5. “The risk of hurricanes and potential flooding impacts clients from Florida to Texas, across the vast majority of the area we serve,” said Reed Moraw, president, Cadence Insurance. “With NOAA’s hurricane predictions well above seasonal averages, now is the time for home and business owners to review their policies to ensure they will be covered in the event of a natural disaster.” This includes assessing the need for flood insurance. Moraw cautions home and business owners that flood maps are being redrawn by the U.S. government, making it even more important to review their coverage needs. While homeowners and property insurance policies cover storm damage, they do not cover damage from flooding, which can include structural and mechanical damage, flood debris clean-up, and damage to floor and wall surfaces. “Many people are unaware that the Federal Emergency Management Agency is updating flood hazard maps nationwide in an effort to reduce risk to lives and properties,” Moraw said. “These changes could make flood insurance a necessity for homeowners and businesses where it previously was not needed.” As updated flood maps are released and go into effect – a process that will continue over the next few years – communities across the country should be prepared for increased insurance requirements. In New York, where redrawn maps were released earlier this year, the number of homes and businesses in flood zones doubled. “The potential impact of these changes is tremendous,” Moraw added. “Compounded by the hurricane threat facing many of our Gulf Coast communities, we could see a lot of homes and business affected.”
About Cadence Bank Cadence Bank, N.A., based in Birmingham, Ala., is a $5.7 billion bank with more than 100 locations in Alabama, Florida, Georgia, Mississippi, Tennessee and Texas. Backed by 126 years of financial expertise, Cadence serves commercial and consumer clients with a full range of innovative banking and financial solutions designed to keep pace with their lives. These products and services include commercial and consumer banking, small business banking, treasury management, international banking, specialized lending, commercial real estate, wealth management, investment and trust services, financial planning, retirement plan management, business and personal insurance, consumer loans, mortgages, home equity lines and loans, and credit cards. Cadence Bank and its affiliates, Linscomb & Williams and Cadence Insurance Agency, are wholly owned subsidiaries of Houston-based Cadence Bancorp, LLC. Additional information about Cadence Bank is available at cadencebank.com. Cadence Bank, N.A. Member FDIC. Equal Housing Lender.
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