Erie Puts Isabel Loss At $74 Million
NU Online News Service, Oct. 8, 3 :24 p.m. EDTThe Sept. 18-19 hurricane caused severe wind and water damage in Maryland, North Carolina, Pennsylvania, Virginia and the District of Columbia.
In July, before the hurricane struck, the Erie, Pa.-based insurer said it sustained approximately $20 million in losses from wind and hail storms that struck western Pennsylvania.
Erie noted in a statement that, due to its reinsurance arrangements, there will be no material effects on its third-quarter financial results from these catastrophe losses.
Erie is the 13th largest auto insurer in the U.S. and the 20th largest property-casualty insurer based on direct premiums written, according to Oldwick, N.J.-based rating agency A.M. Best Company.
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