Home Insurance Companies’ Computerized Models Yield High Rates
July 8th, 08Hurricane Andrew, in 1992, brought havoc on Florida homes and on insurance companies, with over $15.5 in reported damages. Many home insurance companies couldn’t pay up and went out of business. Ever since, insurance companies have started to use specialized computer programs to try to predict hurricanes in coastal areas–instead of using the old method, of looking at an area’s past disaster statistics in order to determine rates.
Tags: Home Insurance, hurricances, Rita, Natural Disaster, Eastern, weather
