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States' Residual Market Exposure Hits $650 Billion

The New York-based I.I.I. warned that the soaring growth of the state-run operations may ultimately shift much long-term risk of hurricane-related losses to policyholders and taxpayers, even those who

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The Insurance Information Institute in a new study said total exposure to loss by state-run property insurers of last resort has exceeded an estimated $650 billion.

The New York-based I.I.I. warned that the soaring growth of the state-run operations may ultimately shift much long-term risk of hurricane-related losses to policyholders and taxpayers, even those who live nowhere near the coast.

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