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December 10, 2004
Many states altering rules on insurance
Hurricane Andrew in 1992 and the Northridge earthquake in 1994 were two watershed natural disasters that prompted significant changes in homeowners' insurance. Here's what states have done since then:
•Florida. Andrew leveled areas south of Miami and caused $20.3 billion in insured losses (in 2003 dollars). In response, the state created the Florida Hurricane Catastrophe Fund, allowing insurance companies to protect themselves against devastating losses. . .
Posted by Tom Troceen