Personal Lines

Two rating agencies say the property and casualty insurance industry can handle losses from Hurricane Irene, but question whether more losses this hurricane season could change that scenario.

Two rating agencies say the property and casualty insurance industry can handle losses from Hurricane Irene, but question whether more losses this hurricane season could change that scenario.

Catastrophe modeler Eqecat says the U.S. can expect $1.5 billion to $2.8 billion in insured losses from Hurricane Irene.

Tropical Storm Katia is expected to become the Atlantic seasons second hurricane over the next 36 hours, but it not yet know what impact, if any, the storm will eventually have on the U.S. East Coast.

Personal lines insurers capital strength and core underwriting earnings power should offset challenges posed by natural catastrophes; high-frequency, low-severity weather events; and the very competitive nature of the market, according to Moodys Investors Service.

Personal lines insurers capital strength and core underwriting earnings power should offset challenges posed by natural catastrophes; high-frequency, low-severity weather events; and the very competitive nature of the market, according to Moodys Investors Service.

The damage from Irene and other disasters means that property insurance premiums will likely rise across the board into 2012, says one research analyst.

Rating agency Standard & Poors says it does not expect Hurricane Irene to affect the industrys creditworthiness and it expects few, if any rating changes as a result of the storm.