Hurricane Michael To Test Florida’s Unique Insurance Market

 Friday, October 12, 2018

 wsj

Much of the damage to homes from Hurricane Michael will be paid by an array of small, little-known insurers, backed up by larger reinsurance companies around the globe.
Florida is an oddball insurance market for homeowners, where household-name companies like State Farm and Allstate Corp. don’t have the outsize roles they do in other states.
Officials had to develop a new strategy after these brand-name insurers shrank their presence in the wake of Andrew, Katrina and other hurricanes from 1992 through 2005.
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