
In 2005, the United States, especially the Florida coast and New Orleans, were hit with seven hurricanes that made landfall. At the same time, America’s home insurance companies were hit by an estimated $60 billion bill.
The 2005 season was the busiest on record, with 27 named storms and 11 federal disaster declarations. The year’s three most devastating hurricanes, Katrina, Rita and Wilma, together accounted for over $45 billion of the total losses. As a result of the pounding the Florida and Louisiana coasts took along with insurance companies, many insurers chose not to renew policies the next time they were up for renewal. The


