Expert: Hurricane Ike spurred greater insured coastal exposure in Texas

09/9/2013 | ClaimsJournal.com

Insurable exposures in coastal areas, flooding and building codes are among the storm-surge-related factors that have gained attention since Hurricane Ike hit Galveston Island, Texas, five years ago and caused insured losses of $12 billion. Insured coastal exposure last year had increased by one-third, to $1.175 trillion, compared with 2007, according to Robert Hartwig of the Insurance Information Institute. "Nationally, the increase in coastal exposure was only 20%. Texas far outpaced the rest of the country," Hartwig said.

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