The hurricanes of 2005 and events in the storm's aftermath were the top three insurance stories of the year, according to the Property Casualty Insurers Association of America.
The number one story was the storms themselves, which resulted in a payout of nearly $50 billion to policyholders and 1.8 million claims. The lawsuits over insurer claim denials based on flood exclusions and the clamor for tougher building codes made the next two stories on the list.
The other events the PCI cited were:
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