Four Major Hurricanes Wipe Out P-C Profits

Insured damages topped $20 billion on 2.2 million claims, but industry was ready

Perhaps the biggest surprise of the summer was not that four powerful hurricanes hit Florida and other U.S. states in a two-month span, causing over $20 billion in damage. The biggest surprise was that the insurance industry took one hit after another relatively in stridetestimony to the lessons learned after Hurricane Andrew devastated Florida and its carriers in 1992.

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