Virginia-based Markel Corp. reported that estimated after tax losses, including reinstatement premiums, from Hurricane Katrina are expected to range from $125 million to $150 million.
The company’s estimate of hurricane losses is based on claims received to date, industry loss estimates, output from both industry and proprietary models as well as a review of in-force contracts. This estimate is preliminary and based on broad assumptions about coverage, liability and reinsurance.
More complete details about these matters, as well as estimated losses from Hurricane Rita, will be included in the company’s full quarterly results which are expected to be available on Nov. 2.
Was this article valuable?
Here are more articles you may enjoy.
Marijuana’s Move to Schedule III: What it Really Means for Cannabis Insurance 
Poorer Americans Dropped Federal Flood Insurance When Rates Rose 
Texas Camp’s Reopening Draws Outrage, but Some Families Want to Return 
Jump Trading Faces $4 Billion Terraform Administrator Suit 
Want to stay up to date?
Get the latest insurance news
sent straight to your inbox.