Travelers Institute Hosts Eighth Annual Hurricane Preparedness Event

The Travelers Institute, the public policy division of The Travelers Companies, Inc. (NYSE: TRV), today will hold its eighth annual “Kicking Off Hurricane Preparedness Season” symposium in Houston, Texas, at the Federal Reserve Bank of Dallas’ Houston Branch. The event focuses on educating communities about strategies to better prepare for, and respond to, severe storms ahead of the 2018 Atlantic hurricane season, which begins June 1. The event will also highlight the important progress Houston has made in its recovery efforts following Hurricane Harvey in 2017.

The National Oceanic and Atmospheric Administration projects that hurricanes will become more intense in coming years, increasing their potential to put lives, homes, businesses and the local economies at risk. In addition, officials at Colorado State University and North Carolina State University predict there could be between 14 and 18 named storms in 2018, with up to five developing into major hurricanes.

Disaster preparedness can help shield communities from costly damage and help mitigate the negative economic impact of these powerful storms. For example, a 2017 study conducted by the National Institute of Building Sciences found that every $1 spent through federal mitigation grants saves society $6 in future disaster costs.

“Preparedness is critical to safeguarding lives and property from extreme weather — especially as we head into the 2018 hurricane season,” said Joan Woodward, President of the Travelers Institute and Executive Vice President of Public Policy at Travelers. “We look forward to shining a light on how taking precautionary steps before a storm can help strengthen the resiliency of our neighborhoods.”

The symposium will convene businesses, homeowners and local officials to discuss how preventive measures can help build stronger communities and foster economic growth. Thanks to ongoing recovery efforts, the Houston economy has steadily rebounded, bringing the city back to pre-storm levels of growth.

“Over the past decade, the Federal Reserve has placed an increased emphasis on both physical and economic resilience, and you can see that in the course of Houston’s recovery,” said Daron Peschel, Senior Vice President In Charge of the Dallas Fed’s Houston Branch. “‘Houston Strong’ spoke not only to the strength of our community but also to the strength of our economy.” Peschel will deliver a keynote address on the Fed’s preparedness and response to Hurricane Harvey and the economic impact of the storm.