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Mitigating Circumstances

When a hurricane starts churning through the Atlantic Ocean or Caribbean and takes aim at the Florida coast, many homeowners, as they load up their car and head for higher ground, feel helpless as

By Phil Galewitz | Updated on October 31, 2006

When a hurricane starts churning through the Atlantic Ocean or Caribbean and takes aim at the Florida coast, many homeowners, as they load up their car and head for higher ground, feel helpless as they contemplate the potential damage to their home. These scenes of people searching for their possessions, as they push aside parts of broken boards, soggy drywall, and insulation, reinforce the need and value of insurance.

However, the now well-documented problem is that if enough homes are damaged, if enough blue tarps are left to blow in the wind, there is the real possibility that the insurance industry may not have the ability to pay all the claims, much less give homeowners the chance to rebuild their shattered lives. For more than a decade and-a-half, Florida has been engaged in solving these problems for good and bad as witnessed by the creation of the Florida Hurricane Catastrophe Fund and Citizens.

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