Almost two years after the disastrous
Loma Prieta earthquake, fire broke out in a
grassy area in the Oakland/Berkeley hills of
northern California. The date was October
20, 1991.
Before it was over 25 people had lost their
lives, 150 others were injured, and 2,449
single family homes and 437 apartments had
gone up in flames!
The economic loss was estimated at $1.7
billion.
Today, more than 15 years later, many
homeowners have yet to receive insurance
payments for their losses. Their lots
stand empty with only charred ruins and a
few personal possessions scattered about
their property.
While many homes have been rebuilt and
precautions taken to avoid a similar
conflagration, many of these
homeowners continue to suffer.
Why? In many cases they were unable to prove
the extent of their losses to their
insurance companies.
Is the Oakland firestorm unique? No. Recall
this catastrophes and the losses that were
sustained:
March, 1993
20-State Winter Storm
$1.75 billion in losses
September, 1999
Hurricane Floyd
$1.9 billion in losses
October, 1995
Hurricane Opal
$2.1 billion in losses
June, 2001
Tropical Storm Allison
$2.5 billion in losses
September 1998
Hurricane Georges
$2.9 billion in losses
September, 1989
Hurricane Hugo
$4.2 billion in losses
January, 1994
Northridge Earthquake
$12.5 billion in losses
August, 1992
Hurricane Andrew
$15.5 billion in losses
The lesson is clear: hope for the best and prepare for the worst. VIS
can be an important part of your security equation.
Almost two years after the disastrous
Loma Prieta earthquake, fire broke out in a
grassy area in the Oakland/Berkeley hills of
northern California. The date was October
20, 1991.