Home | Business News | Browse by Publication | K | Knight-Ridder Tribune Business News

Experts say expect insurance price hikes after Katrina.

Publication: Knight-Ridder Tribune Business News
Publication Date: 01-SEP-05 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Byline: Sasha Talcott

Sep. 1--Hurricane Katrina is shaping up to be one of the costliest storms in US history, and it may exacerbate problems for homeowners across the Eastern Seaboard in getting insurance.

Insurers are likely to raise prices in the Southeast, industry executives said, as companies try to protect themselves against another big hurricane in the future.

Industry estimates of the hurricane's cost vary, with AIR Worldwide Corp. of Boston predicting that the storm will cost the industry $17 billion to $25 billion, while other estimates range from $9 billion to $25 billion.

"It will be very costly because there was widespread wind damage and because of the sheer size of the entire event," said Jayanta Guin, AIR's vice president of research and modeling. Katrina may also have an indirect impact on Cape Cod, where insurers already have hiked...

Read the FULL article now - Try Goliath Business News - FREE!   
You can view this article PLUS...

  • Over 5 million business articles
  • Hundreds of the most trusted magazines, newswires, and journals (see list)
  • Premium business information that is timely and relevant
  • Unlimited Access

Now for a Limited Time, try Goliath Business News - Free for 3 Days!
Tell Me More   Terms and Conditions

Get Goliath Business News for 1 year - Just $99 (Save 65%)
Tell Me More   Terms and Conditions

Already a subscriber? Log in to view full article



More articles from Knight-Ridder Tribune Business News
Hurricane damage diverts ships to Texas, other ports., September 02, 2005
Merged Sprint Nextel will sweeten wireless plans., September 01, 2005
Penn National Gaming casinos along Gulf Coast battered during Katrina., September 01, 2005
Fuel prices, cancellations from Katrina dog airlines., September 01, 2005
Katrina pushes gas prices past $3 a gallon in Connecticut., September 01, 2005

Looking for additional articles?
Search our database of over 3 million articles.

Looking for more in-depth information on this industry?
Search our complete database of Industry & Market reports by text, subject, publication name or publication date.

About Goliath
Whether you're looking for sales prospects, competitive information, company analysis or best practices in managing your organization, Goliath can help you meet your business needs.

Our extensive business information databases empower business professionals with both the breadth and depth of credible, authoritative information they need to support their business goals. Whether it be strategic planning, sales prospecting, company research or defining management best practices - Goliath is your leading source for accurate information.