Ratings firm Fitch said Hermine's effects could depress third-quarter earnings for some
"I would characterize the storm as a good quiz for the catastrophe plans of all companies doing business in
A full measure of damage and costs won't be known for a while, though insurers are starting to get an idea. The largest of 719 claims to
In part because of hurricane deductibles -- what homeowners pay before insurance kicks in -- Burt said Wednesday his company's payments for Hermine claims could come in under
The company has about 300,000 customers statewide. Burt said the company covers about 6 percent of the
Fitch Ratings said Hermine "is expected to have a modest impact" on insurance companies and the reinsurers who back them up.
Hermine was a Category 1 hurricane when it hit northern
That could "depress third-quarter 2016 earnings for primary writers in
"Loss experience from Hermine will provide insight into the preparedness of the
Many insurers are still assessing damage, including
"We have emergency response plans in place and the manpower, infrastructure and financial resources to handle these claims," Desjadon said. "At this point, it is too early to predict Hermine's impact. We know it could have been much worse."
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