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Damaged beach houses stand surrounded by debris after Hurricane Michael hit in Mexico Beach on Oct. 11, 2018. Photographer: Zack Wittman/Bloomberg Damaged beach houses stand surrounded by debris after Hurricane Michael hit in Mexico Beach on Oct. 11, 2018. (Photo: Zack Wittman/Bloomberg)

Florida’s disjointed property insurance system that relies almost exclusively on small and midsize companies will take a multibillion-dollar loss from Hurricane Michael, but has sufficient reserves and backups that providers should be able to pay claims without problems, analysts say.

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