Don't look now, but hurricane season is coming

For HCI, a Tampa property insurance firm, the coronavirus pandemic is validation of its crisis preparation plans.

By Brian Hartz
| 6:00 a.m. April 8, 2020
| 0 Free Articles Remaining!

File. HCI Group executives Paresh Patel and Kevin Mitchell began requiring employees to work from home starting on March 1, well ahead of the guidelines issued in most municipalities and states.

Insurance

HCI Group Chairman and CEO Paresh Patel has a stark reminder for property owners reeling from the economic fallout of the COVID-19 crisis: Hurricane season is coming.

As if we didn’t have enough to worry about, right? But that’s the job of insurance companies — to anticipate and calculate risk. Tampa-based HCI Group (NYSE: HCI), which reported $242.47 million in revenue last year, up 4.8% from $231.29 million in 2018, primarily sells homeowners and flood insurance, so it hasn’t been battered with business disruption claims like some other companies.