25 years after the devastating Hurricane Andrew struck South Florida, Swiss Re calculated what the loss levels would be today if the same hurricane hit the region, revealing insured losses would double to reach $50-60 billion, and economic damage would exceed $80 to $100 billion.

This is due to stark development and asset value growth – increased migration to the area has led to a Miami-Dade County population growth of nearly 35% since 1992, Swiss Re said.

As one of the most-developed regions of the U.S., combined residential values in Miami-Dade, Broward and Palm Beach Counties are now estimated at $660 billion, and $550 billion in commercial values.

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