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posted on June 16, 2008
Report: Total Insured Value of Properties in Hurricane Prone States on Pace to Double in 10 Years
A report recently completed by catastrophe risk modeling firm AIR Worldwide Corporation estimates that during the past three years the insured value of properties in coastal areas of the United States continued to grow at a compound annual growth rate of just more than 7 percent. Despite the recent weakening of the real estate market in many areas, the insured value—or the cost to rebuild properties—has maintained an annual growth rate that will lead to a doubling of the total value every decade.
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