Spring World 2018

Conference & Exhibit

Attend The #1 BC/DR Event!

Fall Journal

Volume 30, Issue 3

Full Contents Now Available!

Monday, 11 September 2017 15:57

Understanding Hurricane Deductibles

With Texas still dealing with the remnants of one major hurricane and Florida about to contend with another, Thursday’s Wall Street Journal called considerable attention to hurricane deductibles:

These deductibles were widely put in place after Hurricane Katrina in 2005 and have been standard in many states for years. But they have rarely been triggered on a large scale because few hurricanes have landed in the U.S. over the past decade.

The Journal article called them “little known provisions that allow insurers to shift thousands of dollars of damage costs” onto homeowners. Most industry experts would quickly point out that this reduces premiums – by hundreds of dollars a year in hurricane-prone states like Florida.

...

http://www.iii.org/insuranceindustryblog/?p=5418