NU Online News Service, Aug. 30, 12:00 p.m.EST
Hurricane Irene should not cause significant losses forcommercial insurers, but it shows that the Northeast is susceptibleto tropical cyclones, justifying recent rate increases in theregion, says Duncan Ellis, U.S. Property Practice Leader forinsurance broker Marsh.
In an interview with NU Online News Service, Ellis saysHurricane Irene will probably prove to be primarily a homeowners'event, but on the commercial side, affected businesses will mostlikely be close to residential areas such as hospitals and medicalfacilities, big box stores, and shopping malls.
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