Private Modeling Companies Say Hurricane Mitigation Efforts Could Reduce Losses By 63 Percent

Tuesday, September 26th, 2006 — As Florida moves forward with mitigation efforts to combat potential losses from hurricanes, a catastrophe modeler from California-based Risk Management Solutions, Inc., says Florida could reduce its annual projected insured losses by some 63 percent if key mitigation efforts were utilized. The Property and Casualty Insurance Reform Committee meeting in Miami Thursday that with the billions of dollars of exposure in Florida, the annual projected losses are projected to be $4.5 billion in residential losses and $3.3 billion in commercial losses.