Despite 10 of the 12 costliest storms for insurers occurring within the last decade, industry experts—staring in the face of yet another predicted above-average hurricane season—say insurers are prepared. 

"The industry is financial and logistically prepared to handle events several times the size of Sandy (insured losses of around $18.8 billion) or even a series of Sandy-size events," says Robert Hartwig, president of the Insurance Information Institute (I.I.I.). 

"Since [Hurricane Andrew], the industry has developed sophisticated catastrophe models, carefully managed coastal exposure, increased reinsurance capacity and alternative forms of catastrophe risk transfer and worked hard to implement rates in hurricane exposed areas that accurately reflect the risk assumed."

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