Allstate To Step Up RM Efforts After $2.4 B Katrina Loss
With its estimate of losses from Hurricane Katrina–$2.39 billionafter taxes–eclipsing any other U.S. insurer estimate to date,Allstate reported a $1.55 billion net loss for the thirdquarter.
Outside the United States, Lloyd's previously put forth thehighest loss estimate for one insurance organization to date, $2.55billion. Within the United States, State Farm, with the largestmarket share in the region impacted by Katrina, has not announced adollar estimate of its losses.
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