Andrew was a wake-up call for the insurance industry
Hurricane Andrew raged over Florida in August 1992. Thousands lost all of their possessions, and 62 lost their lives. The insured loss: US$ 17bn (original values). Today, 20 years on, Andrew is still the third most expensive windstorm ever for the insurance industry.
How did Andrew change the insurance industry and what does this mean for the risk assessment of natural hazards in North America today? In the film Peter Höppe, Head of Geo Risks Research/Corporate Climate Centre, Munich Re and Tony Kuczinski, CEO of Munich Reinsurance America, Inc., describe this natural catastrophe and its significance for the insurance industry. – Simply click on the video.