Miami real estate owners are all too aware of the high risks they face during hurricane season. A panel in Alabama is currently examining what steps can be taken to better protect homeowners from storm damage - and from their insurance companies, who may give them too little notice about expiring policies.
Like Miami real estate owners, Alabamans were struck hard by last year's hurricane season. According to the Miami Herald, the Alabama state legislature is looking into the possibility of passing a "captive insurance law." Laws of this kind are already on the books in some states, and they allow businesses to create their own insurance companies. This would help high-risk businesses get the protection they need, but which traditional insurance companies might be reluctant to give them.
