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Reinsurers should be able to absorb losses from Superstorm Sandy without a negative ratings impact, says Fitch Ratings. Meanwhile, Moodys Investors Service says the storm could, in a worst-case scenario, cause losses for the Combine Re catastrophe bond.
Reinsurers should be able to absorb losses from Superstorm Sandy without a negative ratings impact, says Fitch Ratings. Meanwhile, Moodys Investors Service says the storm could, in a worst-case scenario, cause losses for the Combine Re catastrophe bond.
Progressive Corp. CEO Genn Renwick says the auto insurer has received 6,000 claims from Superstorm Sandy as of Nov. 2 and more often than not theyll be total losses.
Progressive Corp. CEO Genn Renwick says the auto insurer has received 6,000 claims from Superstorm Sandy as of Nov. 2 and more often than not theyll be total losses.
The National Flood Insurance Program will likely need to go to Congress for additional borrowing authority to pay claims from Superstorm Sandy, insurance industry officials say.
Berkshire Hathaway Inc, the conglomerate run by billionaire Warren Buffett, on Friday said its third-quarter profit rose as strength in the railroad and utility businesses, as well as investment gains, offset weaker results in the insurance units.
Berkshire Hathaway Inc, the conglomerate run by billionaire Warren Buffett, on Friday said its third-quarter profit rose as strength in the railroad and utility businesses, as well as investment gains, offset weaker results in the insurance units.
Insurance companies are smarting over the decision by six states and the District of Columbia to tell insurers they cannot impose hurricane deductibles for losses suffered from Superstorm Sandy.
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