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Kathy Burger
Kathy Burger
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8 Insurance Industry Impacts of Hurricane Andrew

Technology, regulation, construction and the P&C insurance industry itself all have changed since – and in some instances, because of – Hurricane Andrew, the category 5 storm that made landfall in south Florida on August 24, 1992. Here are eight ways that the catastrophe changed the way insurance companies do business.
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6. Setting the Right Priorities

"The struggle of keeping Citizens [Insurance] actuarily sound, yet somehow affordable – another Hurricane Andrew legacy as private firms dropped windstorm coverage and fled the state -- continues. However, using the re-inspection program to raise revenue is counterproductive and only undermines the long-term goal of creating more wind-hardened properties, a must in the nation's most hurricane-prone state."

— Editorial, South Florida Sun-Sentinel

Source: South Florida Sun-Sentinel

Katherine Burger is Editorial Director of Bank Systems & Technology and Insurance & Technology, members of UBM TechWeb's InformationWeek Financial Services. She assumed leadership of Bank Systems & Technology in 2003 and of Insurance & Technology in 1991. In addition to ... View Full Bio

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