Editor's note: Bob Hunter serves as the director of insurance for the Consumer Federation of America (CFA) and former Federal Insurance Administrator and Texas Insurance Commissioner.
As I watched coverage of the flooding caused by Hurricane Isaac in New Orleans this past week, I could not help but recall the Category 5 storm which struck Florida 20 years ago that forever changed not only the lives of citizens impacted by the storm, but also the entire property and casualty insurance industry.
Hurricane Andrew made landfall in Florida on Aug. 24, 1992. Hundreds of thousands of homes were damaged or destroyed and nearly 50 people lost their lives. The Category 5 storm is now considered to be the costliest disaster in the history of Florida.
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