Hurricane Rita should not lead to insurer insolvencies or raise prices except on a regional basis, insurance experts said today.
While the storm may not have done the damage of a Hurricane Katrina, estimated insurance losses from Rita still put her on the top 10 list, analysts noted.
Jay Gelb, an analyst for Lehman Brothers in New York, pointed out that loss estimates, which range from $2.5 billion to $7 billion from three modeling firms, give Rita a place as one of the most expensive hurricane insurance losses in history,
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