State exposure to last-resort property insurers has grown 12-fold over the 16 years ending in 2006, to a whopping $656.7 billion, according to a new economic study by the Insurance Information Institute.
Equally staggering, the number of residential properties insured by these so-called "fair access to insurance requirements" programs has soared 140 percent from 1997 to 2006, the study found.
And the number of commercial properties added to the state's risk has grown even greater in the 1997-2006 period, up almost 300 percent, according to the study.
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