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.
Founder of Auto Parts Maker Charged With Fraud That Wiped Out Billions 
UBS Top Executives to Appear at Senate Hearing on Credit Suisse Nazi Accounts 
Navigators Can’t Parse ‘Additional Insured’ Policy Wording in Georgia Explosion Case 
Hackers Hit Sensitive Targets in 37 Nations in Spying Plot 
Want to stay up to date?
Get the latest insurance news
sent straight to your inbox.