At press time, we received this special report from our sister publication which gives the latest update on the devastation in Florida and its impact on insureds and insurers alike. (See our related news feature in National Report.)

When the word came that Hurricane Charley had become a Category 4 storm with top winds reaching 145 miles-per-hour, insurance representatives knew that this was the storm they had spent years warning regulators, lawmakers, and consumers about. Ever since Hurricane Andrew unleashed its destructive power in 1992 resulting in $15 billion in insured losses (in ’92 dollars), the industry had been preparing for just this scenario, a radar screen showing a killer storm bearing down on one of the most densely populated regions in the state, in this case the Tampa Bay area.

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