For eight consecutive years, Florida has escaped hurricane damage. As Floridians thank their lucky stars for the eight-year reprieve, it is important to recognize that the absence of recent catastrophic windstorms is a lucky break, not a rewrite of Florida's hurricane history.
The Insurance Information Institute (I.I.I.) and the Florida Insurance Council (FIC) took a look at historical storms impacting Florida and determined the costs of history repeating itself.
When Hurricane Andrew hit Homestead, Florida, in 1992, it caused more than $16 billion in insured losses at that time. If Andrew were to hit today, estimated losses would be more than three times higher: $50 billion.
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