“Every boxer has a plan until they get punched in the mouth.” It’s one of boxing legend Mike Tyson’s most famous quotations from his dominant heavyweight days in the ring. He’s referring to the scenario where boxers (or indeed any person in any skill or profession) practice daily and prepare for any possible scenario, but when a scenario actually comes to fruition, “then, like a rat, they stop in fear and freeze.”
Insurance professionals responding to catastrophic weather events do not have the luxury of being able to “stop in fear and freeze.” Over the past few years, insurers in Canada have suffered several sucker punches to the face. They’ve had heavy blows in the form of the Fort McMurray wildfires in 2016 and the Calgary floods in 2013, and frequent surprise uppercuts in the shape of regional flooding, wind storms, and hail in the western provinces.
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