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P-C Net Income Could Be Negative For 2001

Following the terrorist attack of Sept. 11, the property-casualty insurance industry is faced with responding to the largest insured catastrophic event in history. While underwriting results in 2001 were not previously showing signs of material improvement relative to the prior year, losses related to the attack will turn 2001 into one of the worst, if not ultimately the single worst underwriting period in industry annals.

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