Insurers Build Record-High Surplus, Lower Non-Coastal Rates After Hurricane Respite

With elevated hurricane activity predicted over the next 15 to 20 years, insurers took advantage of last year`s respite to fix the roof while the sun was shining, setting aside billions to bolster the industry’s claims-paying capacity, according to the Insurance Information Institute. At the same time, insurers are lowering rates for most drivers, as well as many businesses and homeowners, with exceptions in coastal communities.