Insurers weather US storms

New Angles

Insured losses totalling between $12 billion and $20 billion are expected to result from hurricanes Charley, Frances and Ivan, according to estimates from California-based risk management firm, Risk Management Solutions (RMS). But despite the scale of losses resulting from the storms – which hit Florida in August and September, respectively – no insurers appear to be lurching towards bankruptcy, as 11 firms did in the aftermath of Hurricane Andrew in 1992. With the hurricane season still open,...

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