Property Insurers Of Last Resort See Record Policy Growth

Six years since Hurricane Katrina and with no major hurricane making U.S. landfall in 2009 or 2010, the assumption might be that the residual property market in hurricane-exposed states would have reduced significantly in size and regained its financial equilibrium. However, this year’s report by the Insurance Information Institute (I.I.I.), like the reports of the last four years, records the ongoing growth in the exposure base of the residual market property insurers along with the still-precarious financial condition of some plans.