Nearly one year after Hurricane Charley came ashore on the southwest coast of Florida, thousands of people are still out of their homes. In addition to the inconveniences that they face everyday, displaced hurricane victims also incur extra expenses.
At more than $15.5 billion, 1992's Andrew still holds the record for the single most costly hurricane for insurers. The combined insured losses from last year's four hurricanes have now reached $22.8 billion. A large part of that figure can be itemized under the heading of additional living expenses.
At the beginning of May, the Office of Insurance Regulation reported that 186 insurers had a total of 57,830 claims still open. Although the figure seems high, it is a small percentage of the nearly 1.7 million insurance claims that resulted from damages in 54 of Florida's 67 counties, according to the OIR.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
