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September 17, 2004

Natural disasters can push up the stocks of insurance firms

Insurance stocks moved higher yesterday, although Hurricane Ivan was not terrible enough to generate the bounce that often follows catastrophic events.

"Bad news is sometimes good news" for insurers, said Michael Paisan, an analyst in New York at Legg Mason Wood Walker. Investors are "anticipating that some price increases will follow" in the hurricanes' path.

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Posted by Tom Troceen