Unfortunately, the “triumvirate of hurricanes” – Houston, Florida and Puerto Rico have given banks a modern data set in which to model a widespread disaster scenario for their residential first trust deed credit portfolio.
While there are not too many good things about Hurricane Harvey and Irma, one silver lining is that the disasters have opened our eyes to how banks can be more valuable to their customers. In retrospect, we should have done a better job at helping our customers prepare and be doing a better job post-disaster to help both retail and commercial customers manage their claims.
