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Allstate has upped its projected losses from Superstorm Sandy to about $1.12 billion, but the insurer's CEO says the company has paid about 98 percent of submitted claims.

Catastrophe models will continue to be exposed by events like Superstorm Sandy because they can fail to contemplate all possible sources of loss, says Lockton Cos.

Catastrophe models will continue to be exposed by events like Superstorm Sandy because they can fail to contemplate all possible sources of loss, says Lockton Cos.

AXIS Capital Holdings Ltd. reported a fourth-quarter net loss of $19 million primarily on losses from Superstorm Sandy.

While insurance-industry representatives are throwing their support behind a bill to extend the Terrorism Risk Insurance Act in its current form, recent comments from other interests show that TRIA proponents will have their work cut out for them to prove that the program is still necessary.

While insurance-industry representatives are throwing their support behind a bill to extend the Terrorism Risk Insurance Act in its current form, recent comments from other interests show that TRIA proponents will have their work cut out for them to prove that the program is still necessary.