Convenes NYSE Euronext, Wharton Experts and the Partnership for
New York City to Discuss Disaster Preparedness on the Eve of Hurricane
Season
NEW YORK--(BUSINESS WIRE)--
Today, the Travelers Institute, the public policy division of The
Travelers Companies, Inc. (NYSE: TRV), convened industry experts and
attendees at the New York Stock Exchange for the third annual “Kicking
Off Hurricane Preparedness Season” symposium to highlight lessons
learned from Storm Sandy and to offer preparedness
tips for mitigating risk.
The event highlighted how the City of New York and NYSE Euronext moved
quickly to restore services after Storm Sandy and analyzed the key
lessons learned ahead of the 2013 hurricane season, which officially
starts on June 1. Recently, experts at the National Oceanographic and
Atmospheric Administration (NOAA) predicted that oceanic and atmospheric
conditions in the Atlantic basin are expected to produce more and
stronger hurricanes in 2013.
The symposium featured:
- Keynote remarks:Seth Pinsky, President
of the New York City Economic Development Corporation, who also leads
Mayor Bloomberg's Special Initiative for Rebuilding & Resiliency.
- Moderator:Joan Woodward, Travelers’
Executive Vice President of Public Policy and President of the
Travelers Institute.
- Panel discussion: entitled, “Lessons
Learned from Storm Sandy – Preparedness, Response and Recovery.”
Panelists included:
- Howard Kunreuther, Professor of Decision Sciences and Business and
Public Policy at the Wharton School of the University of
Pennsylvania and Co-Director of the Wharton Risk Management and
Decision Processes Center
- Joe Mecane, Executive Vice President and Head of Cash Execution,
NYSE Euronext
- Robert Walsh, Commissioner of the NYC Department of Small Business
Services
- Jim McConnell, Assistant Commissioner for Strategic Data, NYC
Office of Emergency Management
“By convening experts from the public and private sectors, we elevated
the importance of disaster preparedness and strong business continuity
plans,” said Woodward. “Representatives from the NYSE Euronext and the
City of New York shared valuable insights on how they were able to
respond so efficiently to the challenges brought on by Storm Sandy. We
applaud these organizations and Mayor Bloomberg on their tremendous
response and rehabilitation efforts, which can serve as a model for
others.”
At the event, Woodward also announced Travelers’ new
consumer insurance education program, the Insurance Knowledge
Center, to help consumers more easily understand their insurance
policies, while protecting their families, businesses and property.
“Under Mayor Bloomberg’s leadership, New York City’s Special Initiative
for Rebuilding & Resiliency is creating a report that will address the
challenges of rebuilding local communities impacted by Hurricane Sandy,
as well as improving critical citywide systems and infrastructure in
order to make the City more resilient in the face of long-term climate
change,” said New York City Economic Development Corporation President
Seth W. Pinsky. “I want to thank the Travelers Institute for hosting
today’s symposium, which is contributing to the important national
conversation surrounding both emergency preparedness and sustainability.”
Local Leaders Share Their Insight
“With Hurricane Sandy, our first priority was the safety of people while
working in close coordination with government authorities, our
regulators and customers, and other market participants,” said Joe
Mecane, Executive Vice President and Head of Cash Execution, NYSE
Euronext. “We take a serious and comprehensive approach to disaster
planning, and the contingencies we have in place are intended to ensure
the integrity of our operations and our national markets. Given the
conditions around us, the fact that we were able to re-open the NYSE
just two ways after the storm speaks well of our plan and people. And
while we effectively executed our disaster plan, this experience enabled
us to further improve our contingency plans toward minimizing the impact
of future events.”
Kathy Wylde, President & CEO of the Partnership for New York City
commented, “Preparing for disaster is a critical issue to which
businesses pay great attention, but many new lessons were learned as a
result of Storm Sandy and businesses of all sizes are recommitting to
continuity planning and disaster mitigation.”
“The City has been working hard to help small businesses impacted by
Hurricane Sandy get back on their feet, but there is still more to do,”
said Rob Walsh, Commissioner of the NYC Department of Small Business
Services. “As we continue to help small businesses recover from Sandy,
we also have to look ahead and help small businesses prepare for future
disasters, and I thank Travelers Institute for contributing to this
conversation.”
“Gathering and analyzing research from hurricanes and flood insurance
will help us better prepare and respond to natural disasters,” noted
Wharton School Prof. Howard Kunreuther. “Information from this event
will help businesses and citizens reduce costs from damages of future
storms.”
For more information to help consumers and businesses prepare for the
unknown, visit the Travelers’ Prepare
& Prevent website. To learn more about the Travelers Institute,
visit www.travelersinstitute.org.
About the Travelers Institute
The Travelers Institute, the public policy division of The Travelers
Companies, Inc., engages in discussion and analysis of public policy
topics of importance to the insurance marketplace and the financial
services industry more broadly. The Travelers Institute draws upon the
industry expertise of Travelers' senior management and the technical
expertise of many of Travelers' underwriters, risk managers and other
experts to provide information, analysis, and solutions to public policy
makers and regulators. Travelers is a leading provider of property
casualty insurance for auto, home and business. For more information,
visit www.Travelers.com.
Travelers
Media Contact:
Ashley Maagero,
860-277-2954
amaagero@travelers.com
Source: Travelers