Insurance Machine

Dec 04,2008
After moving to upstate New York in August 2007, to live with her parents, Amy Rehbit intended to sell her Long Island home.
Every other weekend, the 35-year-old school teacher traveled from her new upstate home to check on the house. Those times that she couldn't make it, her parents drove back or a neighbor looked in. She had left the house furnished, with the cable TV still hooked up.

Property Casualty Insurers or PCI, is encouraging state public policymakers to deal with the deficits and shortcomings in their residual markets. Assistant vice president and regional manager for the southeast at PCI, William Stander, says for several years there have been alarm bells in the coastal states of Florida, North Carolina and Texas. He says that as property exposure continues to grow, in order to help protect homeowners, state governments should stabilize the financial condition of these coastal insurance markets.

Lynn Knauf, director of personal lines at Property Casualty Insurers, PCI, says that they are in the midst of a unique weather cycle of increased storm activity, which she believes might even last fifty more years. She says that the current weather pattern together with the present significant population growth and costs of rebuilding costs on the coasts, makes the United States increasingly susceptible to catastrophic natural disasters.