Florida population is expected to have a net gain of 1.1 million people between 1995 and 2000. The growth of this market, along with its very unique geographic features, require us to pay special attention to the insurance and financial protection needs of people who live here. It is significant that 23 of the 26 largest US natural catastrophes have occurred in the past 10 years. Since 1989, there have been eight. Statistically, that s very significant.
Insured losses are a part of the equation.
There are other costs involved, too. The total cost shouldered by taxpayers is not clear because the chart data reflects only insured losses. We need to add the uninsured public service costs and infrastructure losses. That s nine times more than the insured losses. This underscores why we are all here today.