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Calibrate Property Coverage With Catastrophe Modeling

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.

By Ravi Singhvi | Updated on May 31, 2010

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?

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