Florida - Hurricane Study
 |
FLORIDA CASE STUDY: ECONOMIC IMPACTS OF BUSINESS CLOSURES IN HURRICANE PRONE COUNTIES
Dr. Robert P. Hartwig, Ph.D.,
Vice President & Chief Economist
JUNE 2002
Ten years have passed since Hurricane Andrew devastated south Florida causing insured losses of $20 billion and economic losses of $34 billion (in current dollars). In this study, the potential insurance and economic consequences of an Andrew-like storm are examined. Were such a storm to occur today, insured losses estimates range from $20 billion to nearly $50 billion (depending on storm track), forcing the closure of up to 10% of the affected area's businesses. The financial losses resulting from the closure, measured in lost revenue, payroll and tax receipts could be much higher. Tens of thousand of jobs could be lost. The analysis focuses on the potential uninsured losses associated with various hurricane scenarios. One reason why insured and uninsured losses remain very high under most scenarios is the continued rapid population and economic growth in Florida through the 1990s, which in dollar terms more than offset the benefits derived from mitigation efforts. The written study is accompanied by a PowerPoint presentation that details hurricane risk in the United State generally and Florida specifically.
Please click on the file name below to view the study. Once open, you can choose "file" from your menu and then save the Word document to your disk. The study also is available in Adobe Acrobat format. The Adobe Acrobat file is smaller and faster to download. However, you do need the appropriate software to view. You can download Adobe Acrobat, free of charge, from their website ( http://www.adobe.com/products/acrobat/ ).
 Download/View File: Word File (3031 K) | |
|
Download/View File: Adobe Acrobat File (155 K) | |
|
Please click on the file name below to view the presentation. Once open, you can choose "file" from your menu and then save the PowerPoint presentation to your disk. The presentation also is available in Adobe Acrobat format. The Adobe Acrobat file is smaller and faster to download. However, you do need the appropriate software to view. You can download Adobe Acrobat, free of charge, from their website ( http://www.adobe.com/products/acrobat/ ).
Download/View File: PowerPoint File (666 K) | |
|
Download/View File: Adobe Acrobat File (690 K) | |
| |
|
