On Friday, Hurricane Harvey developed into a Category 4 and madelandfall near Rockport, Texas. In addition to direct losses, thestorm is causing heavy rainfall and storm surge-related lossesalong coastal Texas. 

While the exact cost of insured damages will take some time toquantify, primary insurers will face the largest effect fromHarvey, with regionally focused carriers most vulnerable giventheir geographic concentrations, Moody's Investors Service said ina statement Monday morning. "The Southeast is a peak catastrophezone in the U.S. for reinsurers, and those with exposure to Texasare at risk of incurring meaningful losses, although we expectthose losses to be manageable relative to earnings," Moody'sadded.

Moody's then identified the top 10 homeowners' and commercialproperty insurers in the Lone Star State, listed by direct premiumswritten.

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Denny Jacob

Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected].