September 03, 2004
Insurers: We'll Handle Double Storm Hit
TALLAHASSEE, Fla. Sept. 3, 2004 — Hurricane Frances could add billions to the $7.4 billion insurance companies are already paying out to Florida victims of Hurricane Charley, but industry officials say changes made after historic Hurricane Andrew left them prepared to handle it.
Property insurers haven't had to deal with major back-to-back storms since the Florida population boomed the last time two storms hit so close was in 1950, when the whole state had less than 3 million people. Now, 17 million live here.
Posted by Tom Troceen