P/C carriers are poised to post hefty cat losses in Q3

09/30/2011 | MarketWatch

Major P/C insurers are expecting to post hefty catastrophe losses in the third quarter as they begin tallying the costs from hurricanes and other weather-related events that hit the Eastern Seaboard and the Gulf Coast. Allstate and Chubb's combined pretax loss estimates in the third quarter could reach $1.3 billion, and insured loss totals for the period could increase once Travelers and other carriers determine their losses from damage claims.

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