Thank you for sharing!

Your article was successfully shared with the contacts you provided.

In 1992, the financial fallout from Hurricane Andrew made it clear to insurers and regulators that natural disasters have a significant impact on the industry’s ability to diversify and contain catastrophic risk. With 790,000 insurance claims and $26 billion in damage ($15.5 billion of it insured), Andrew became the costliest catastrophe in U.S. history.

Although catastrophe models are now used to spread the risk associated with catastrophes of that magnitude, there is still room for improvement.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.


  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?



Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.