The Role Of State-Run Insurers in Providing Property Coverage in Coastal States With High Hurricane Exposure


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The significant growth in the size and value of coastal properties has impacted insurer exposure. In 2008, AIR Worldwide estimated that insured values for coastal counties from Texas to Maine were almost $9 trillion. In addition, hurricanes account for most of the property damage losses resulting from U.S. catastrophes. As such, coastal states have adopted various approaches to address issues related to financing hurricane risk. This paper will discuss the hurricane risk financing approaches utilized in coastal states with high hurricane exposure: Florida, Louisiana, Mississippi, North Carolina, South Carolina and Texas. In addition, a summary of recent related legislative activity is provided.


  • Cassandra R. Cole, Patrick F. Maroney, Kathleen A. McCullough, and Charles Nyce

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