Weather Heroes
Weather Heroes takes you on an insightful journey into the essential realm of disaster preparedness and response. We introduce you to key weather experts from diverse backgrounds and industries, shedding light on their vital roles before and after extreme weather events.
The financial, environmental, and human costs of weather disasters are staggering. In 2023 alone, the National Oceanic and Atmospheric Administration (NOAA) reported 28 weather disasters, causing at least $92.9 billion in damage. This record-breaking year surpassed the previous high of 22 events in 2020. Since 1980, the U.S. has endured 376 major weather events, accumulating over $2.5 trillion in damages.
With the total damage estimate from 2024, including the L.A. Wildfire and the third costliest hurricane season (featuring Hurricane Helene), the overall cost will undoubtedly rise. Moreover, countless smaller-scale disasters also leave profound impacts on people's lives and properties.
Each weather event unfolds its own narrative, uniquely affecting individuals and communities. Weather Heroes connects you with those who rebuild lives—sharing stories of resilience and unwavering dedication.
Weather Heroes
Helping Solve the Insurance Crisis - Van Carlson and 831(b) Plans
Insurance policies help manage the costs of damage. This can be from severe weather events, wildfires, earthquakes, lightning strikes, and so many other perils. Still, there are situations where insurance may not cover a loss or only part of it. Consider:
- Deductibles: A portion of the loss is paid by the policyholder.
- Underinsured losses: Losses where there is insufficient coverage.
- Uninsurable and/or unidentifiable risks: Think about COVID-19.
The impacts of COVID-19, a peril not covered under many policies, was particularly impactful on businesses. Damages included loss of business income, potential worker compensation issues, extra costs for safety measures, and ongoing expenses with no corresponding benefits (such as rental costs for unused office space).
By adopting a proactive and comprehensive approach to risk management, businesses can better navigate uncertainties and business risks. Van Carlson has built a company around helping businesses survive after disasters and thrive in some of the most challenging insurance markets seen in many years.
Van is the founder and manager of SRA Admin, a company that focuses on risk assessment for businesses and utilizes Section 831(b) of the Internal Revenue Code to help businesses plan for the unexpected. An 831(b) plan can provide businesses with a financial buffer for many situations – think of kind of like a 401k plan where it’s okay to take some money out for emergencies, before you retire.
So, come and explore some of the challenges business face in managing risks and some of the creative solution available.
SRA 831(b) Micro Captives for Business Owners - SRA 831(b) ADMIN