TITLE

Flooded With Claims

AUTHOR(S)
Johnson, Matthew
PUB. DATE
October 2004
SOURCE
Bond Buyer;10/20/2004, Vol. 350 Issue 31993, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article focuses on some property and casualty insurers flooded with claims from hurricanes in Florida who have been selling municipal bonds, including an Allstate Corp. Florida subsidiary. This year's hurricane season has so far left insurers with a tab estimated between $22 billion and $27 billion, dwarting the $15.5 billion in losses they incurred from Hurricane Andrew in 1992. the single most expensive storm in U.S. history according to the Insurance Information Institute. Most other insurers selling their municipal holdings have been smaller, Florida- based companies.
ACCESSION #
14779211

 

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