Commercial wind insurance in the Gulf States
Subtitle: developments since Hurricane Katrina and challenges moving forward
By: Lloyd Dixon, James W. Macdonald, and Julie Zissimopoulos.
Contributors: Macdonald, James W.; Zissimopoulos, Julie M. 1969-; Institute for Civil Justice (U.S.); Rand Corporation.
Series: Occasional paper -- OP-190; Occasional paper (Rand Corporation) -- OP-190.
Publisher: RAND Institute for Civil Justice
Published: 2007
Place of publication: Santa Monica, Calif
Language: eng
Number of pages: 12
Subjects: Wind damage -- United States.; Insurance, Windstorm -- United States.; Insurance, Property -- United States.; Commercial real estate -- United States.; Risk (Insurance) -- United States.; Risk management -- United States.; Hurricane Katrina, 2005.
Description: Following the devastating hurricane seasons of 2004 and 2005, there were indications of dramatic changes in the market for commercial property insurance in the Gulf States, including skyrocketing insurance prices and difficulty finding adequate coverage. These changes had and continue to have crucial ramifications for the region's economic recovery and ongoing economic vitality, which is why it is essential that the insurance system for commercial wind risk be assessed to see how it performed following Hurricane Katrina and to determine whether government programs and regulations related to wind risk insurance need to be changed. The authors provide an overview of the 2005 hurricane season's impact on the commercial property insurance market in the Gulf States and the outlook for the future. They also propose three basic goals for a wind risk insurance system and examine some of the challenges involved in achieving these goals.
Notes: Caption title.

Includes bibliographical references (p. 11-12).

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