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and Andrew in 1992, forced a re-evaluation of this risk <br />assessment. While experts sometimes disagree on the annual <br />cost, all sources agree that Hurricane Andrew was the most <br />costly hurricane event ever to affect the U.S. Insured losses <br />from Hurricane Andrew topped $17 billion, and most sources <br />agree that the total cost of Hurricane Andrew exceeded $25 <br />billion. <br />Florida is the most vulnerable state in the nation to the impacts <br />of hurricanes and tropical storms. South Central Florida is <br />particularly exposed to the dangers presented by hurricanes <br />due to its topography. The region is largely a flat, low-lying <br />plain. The potential for property damage and human <br />casualties in Indian River County has been increased by the <br />rapid growth of the County over the last few decades, <br />particularly along the coastline. Population risk also has been <br />exacerbated by some complacency due to the recent period of <br />reduced hurricane frequency. <br />Florida has one of the highest exposures and levels of risk to <br />tropical weather events in the United States <br />(https://www.floir.com/site Documents/2018AnnualReport. pdf) . <br />Since 2016, Florida has experienced three consecutive Atlantic <br />Hurricane Seasons with at least one hurricane making landfall <br />during each season accounting for a combined total of more <br />than $17 billion in estimated insured losses. Florida's <br />homeowners insurance market continued to grow in 2017, with <br />over 88 percent or 4.9 million of the policies in force covered <br />by the domestic market. This helped reduce the number of <br />policies written by Citizens Property Insurance Corporation, the <br />state's homeowner's insurer of last resort to under 8 percent. <br />Some of the growth of the voluntary market was due to the <br />high level of capacity available in the reinsurance market, <br />which permits insurers to increase writings. Additionally, the <br />cost of reinsurance in 2017 continued to decline, with <br />alternative vehicles such as insurance linked securities <br />accounting for a larger share of the reinsurance market. Over <br />the 28 -year period from 1990-2018, Florida's population <br />increased by 64%. <br />Indian River County Comprehensive Emergency Management Plan Basic Page 27 <br />