While the market for homeowners insurance in coastal areas remains hard, there are signs that carriers are slowly considering ways to take on some hurricane-prone risks in a measured, responsible manner.
Meanwhile, some specialty products, particularly in the area of excess flood coverage, have been gaining in popularity in coastal regions since the 2004 and 2005 hurricane seasons demonstrated how underprepared homeowners were in protecting themselves from this particular risk.
Agents emphasize the market remains considerably challenging, and industry association representatives note conditions are such that state and federal legislators are still keeping a close eye on how consumers are being affected with respect to availability, to some degree, but more so with respect to affordability.
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