Strapped Insurers Flee Coastal Areas

Thursday, April 27th, 2006 Property

With the 2006 hurricane season starting in just five weeks, many home insurers from Texas to Florida to New York are canceling policies along the coast or refusing to sell new ones out of fear of another catastrophic storm. In the widest insurance retreat from coastal property since Hurricane Andrew slammed Florida in 1992, insurers as far north as Long Island, N.Y., and Cape Cod, Mass., are shedding coastal homeowners policies to reduce their exposure.

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http://www.usatoday.com/money/industries/insurance/2006-04-25-hurricane-usat_x.htm

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