NU Online News Service, Sept. 4, 10:50 a.m. EDT

State-run property insurers of last resort in some hurricane-exposed states “are on shaky ground” financially, the Insurance Information Institute (I.I.I.) warned.

A white paper released by I.I.I., titled “Residual Market Property Plans: From Markets of Last Resort to Markets of First Choice” said, “The credit crunch and prolonged economic downturn have exacerbated the already vulnerable financial condition of certain plans, making it more difficult for states to borrow funds.”

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