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Florida may ride out this storm; Post-Andrew reforms seen blunting insurance premium increases...

Byline: Gary S. Mogel

NEW YORK - Insurance reforms implemented following 1992's Hurricane Andrew are expected to prevent massive premium increases in Florida despite losses caused by the major hurricanes this season, according to observers familiar with the state's insurance market.

While other states affected by the storms never implemented reforms to the extent that Florida did - including a state-backed catastrophe fund and higher deductibles - those states weren't as severely affected by the recent hurricanes and thus didn't face staggering increases. <

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