The absence of a major catastrophic event in Florida in recent years has not erased memories of the 2004 and 2005 hurricane seasons and the impact of the ensuing hard property insurance market. Smart Florida business owners know they cannot afford to leave themselves exposed during what could be a very busy hurricane season. The loss of a key facility can ruin a business.
Even with this knowledge, commercial property owners can be in a vulnerable position when it comes to buying property insurance. With some lenders requiring full property coverage, no matter the price, some businesses buy too much property coverage, others too little. Is it possible to calibrate coverage more precisely?
Yes, with catastrophe risk modeling. Cat models can help Florida commercial insureds better understand their exposure to windstorm risk across their entire property schedule and down to each individual location. Using this sophisticated insight, insureds can determine the proper amount of insurance coverage to match their exposure, their financial needs, and their risk appetite.
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.
