For decades through the mid to late 1900s Minnesota’s property insurance market was stable, but one year changed that.
Three major storms struck Minnesota in 1998 causing more than $1.5-billion in insured losses which was more than the previous 40 years combined!
Since then, there has been year after year of increasing storm damage, causing a large increase in property insurance premiums.
The Insurance Federation of Minnesota has prepared a PowerPoint presentation with more details.
