August 29, 2006
Lessons Learnt, Preparations Made
In Florida, tropical Storms no longer create the kind of storm they did last year. Lessons learned from devastating hurricanes in recent years have led major insurers to rethink their exposure to catastrophe prone areas such as Florida. Marketwatch.com reports:
After this hurricane season, Allstate, which received an 18.2% insurance rate increase in Florida in October, says it will no longer renew its smaller property lines such as landlord package policies, residential fire policies, and manufactured home policies.
Read More: Insurers Better Prepared To Weather Major Storms In 2006
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