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