Florida insurance industry says it's prepared for Frances' fallout

While Hurricane Frances threatens to add billions more to the $7.4 billion insurance companies are paying from Hurricane Charley, companies say they shouldn't be devastated by the one-two punch, thanks to lessons learned in 1992 from Hurricane Andrew. Florida's property insurance industry was devastated by Andrew, but state officials worked to build up a hurricane catastrophe fund and to let companies build reserves to handle future hurricanes.

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San Jose Mercury News (Calif.) (free registration)

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