̽»¨¾«Ñ¡

Ten years have passed since Hurricane Andrew devastated south Florida causing insured losses of $20 billion and economic losses of $34 billion (in current dollars). In this study, the potential insurance and economic consequences of an Andrew-like storm are examined. Were such a storm to occur today, insured losses estimates range from $20 billion to nearly $50 billion (depending on storm track), forcing the closure of up to 10% of the affected area's businesses. The financial losses resulting from the closure, measured in lost revenue, payroll and tax receipts could be much higher. Tens of thousand of jobs could be lost. The analysis focuses on the potential uninsured losses associated with various hurricane scenarios. One reason why insured and uninsured losses remain very high under most scenarios is the continued rapid population and economic growth in Florida through the 1990s, which in dollar terms more than offset the benefits derived from mitigation efforts. The written study is accompanied by a PowerPoint presentation that details hurricane risk in the United State generally and Florida specifically.