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October 24, 2011

Hurricane Irene and other Catastrophe Claims Flood The Travelers.

  Claims from Hurricane Irene, and other Catastrophe Claims, reportedly have reduced The Travelers' 3Q profit by 67%.  That reportedly reduced 3Q profit down to $333,000,000.00 or $33Million.

   However, it is also reported that Premium Rate Increase Requests for Business Insurance Coverages in particular rose in the same 3Q to $5,600,000,000.00 or $5.6Billion.  Erik Holm, "TRAVELERS / Storms Hit Bottom Line" p. C2, col. 4 (Wall Street Journal, Thursday, October 20, 2011)(subscription required to read entire report online).

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Posted by on October 24, 2011 at 03:55 AM in Business Interruption Coverage, Catastrophe Claims, Hurricanes, Market Performance, Premiums, Property Insurance |

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