In the first of our Katrina Chronicles series, we have the privilege of speaking with EG Warren, a veteran insurance agent boasting over fifty years of invaluable experience. EG reflects on his early days in the insurance industry on the Mississippi coast and candidly shares the personal and professional hurdles he encountered in the aftermath of Hurricane Katrina. His story is a powerful testament to the resilience and fortitude of a community ravaged by one of the most destructive storms in history.

Despite his humility, EG's narratives reveal the staggering challenges he faced. The interview kicks off with a brief history of EG's journey before diving into the chaotic aftermath of Katrina. EG’s office transformed into a vital hub for the exchange of information, offering essentials like water and clothes, and serving as a connection point for the entire community. EG is one of the many heroes that shined through during the dark days of Katrina’s aftermath. Tune in as EG chronicles the daily struggles he and the community endured.

Hurricane Katrina - August 2005 (National Hurricane Center)

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Welcome to the introduction to Season Two of the Weather Heroes podcast. We’re starting a little late, but we are also starting off with a bang! This season we begin focusing on Hurricane Katrina, while still on the lookout for Weather Heroes, no matter where they might be.

This August marks the 20th anniversary of Hurricane Katrina—a storm of unparalleled devastation. As we approach this significant milestone, we will be dedicating a series of episodes to recounting the experiences surrounding this catastrophic event and its impact on the Gulf Coast and beyond. We’ll be calling these episodes the “Katrina Chronicles.”

Hurricane Katrina unleashed widespread destruction and stands as the costliest hurricane in U.S. history. While much of the media coverage rightly focused on the devastation in New Orleans, the storm inflicted severe damage across large portions of southern Mississippi and the southeastern U.S. Its massive size resulted in prolonged exposure to wind damage, and its storm surge—reaching heights of twenty feet from Bay St. Louis, MS to the northern reaches of Mobile Bay—compounded the destruction.

In Katrina's aftermath, chaos and disorder reigned. Essential services like electricity, water, gasoline, housing, and even food were scarce, with shortages lasting for days, and in some places, weeks. Amidst this turmoil, those who endured the storm faced the daunting task of rebuilding their lives.

Yet, from the wreckage emerged stories of resilience. Weather Heroes will share the tales of these quiet heroes who led their communities through adversity, showcasing their strength and determination.

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

Van Carlson Biography