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An image of Hurricane Isaac, provided by NOAA (AP Photo/NOAA)

Fitch Ratings says the insurance industry should be able to manage losses from Hurricane Isaac, which, according to very early estimates, could range from $300 million to $7.5 billion.

State Farm and Allstate, which together control 39 percent of the homeowners market in the three most affected states (Louisiana, Mississippi and Alabama), according to SNL Financial figures, will likely suffer the brunt of the insured losses.

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