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A case study of Florida's homeowners' insurance since Hurricane Andrew / Elliott Mittler.

Material type: TextTextSeries: Working paper (University of Colorado, Boulder. Natural Hazards Research and APublication details: Boulder, Colo. : Natural Hazards Research and Applications Information Center, Institute of Behavioral Science,University of Colorado, 1997Description: 20 pDDC classification:
  • 368.12209759 21
Subject: Following Hurricane Andrew, which made landfall on the morning of August 24, 1992, property and casualty insurance companies in the state of Florida were faced with over $16 billion in insured losses, a circumstance the companies thought was highly unlikely and were not prepared for. In reaction, an insurance crisis ensued, broadly characterized as a desire of insurance companies to either withdraw from the Florida market or significantly reduce their exposed risk and a desire of the Florida Department of Insurance and legislature to ensure that affordable insurance would be made available to all homeowners and commerical businesses. How the legislature dealt with this crisis is the subject of this case study
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Following Hurricane Andrew, which made landfall on the morning of August 24, 1992, property and casualty insurance companies in the state of Florida were faced with over $16 billion in insured losses, a circumstance the companies thought was highly unlikely and were not prepared for. In reaction, an insurance crisis ensued, broadly characterized as a desire of insurance companies to either withdraw from the Florida market or significantly reduce their exposed risk and a desire of the Florida Department of Insurance and legislature to ensure that affordable insurance would be made available to all homeowners and commerical businesses. How the legislature dealt with this crisis is the subject of this case study

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