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September 05, 2004

Frances hits some insurers for billions

Allstate, St Paul Travelers, Ace and other insurers face as much as $10 billion in losses as Hurricane Frances batters Florida.

The storm cut a 170-mile (274km) swath of hurricane-force winds encompassing much of the state’s central coastline as it came ashore overnight. Risk Management Solutions, which uses computer models to predict claims, said Frances may cost anywhere from $2 billion to $10 billion, since the strongest winds will probably strike in less populated areas near Vero Beach.

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Posted by Tom Troceen


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