Reforms are needed to shore up the Ala. P/C market, group says

01/15/2012 | Birmingham News (Ala.), The

Claims payouts for property/casualty insurers in Alabama totaled $7.5 billion between 2005 and 2010, surpassing the companies' $6.8 billion in premium collections, according to PCI. The insurers were unable to cover their losses with investment earnings during the period, and state lawmakers must seek changes to help the industry recover, PCI said. "There is no question that the Alabama insurance market is in a fragile state right now," PCI's Monique Kabitzke said.

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Birmingham News (Ala.), The

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