Florida Insurers Seek Safe Haven In Hurricane Season Jul 05

Standard & Poors, July 2005

Abstract
With the 2005 Florida hurricane season under way, it appears to be a race to see who can find cover quickest-Florida homeowners or the insurers that cover them. It is too early yet to fully assess the damage from Hurricane Dennis. The first major storm of the season to hit the U.S. brushed the Florida Keys before attacking the Panhandle region in early July. Although total insured losses are not yet known, early estimates vary from a low of $1 billion by AIR Worldwide Corp. to as much as $8 billion, according to Eqecat Inc. Yet the season has only just begun. The National Oceanic & Atmospheric Administration predicts three to five major hurricanes in the U.S. in 2005 compared...

Companies mentioned in this report are: State Farm Mutual Automobile Insurance Co.,Allstate Floridian Insurance Co.,Allstate Corp.,Nationwide Financial Services Inc.,Citizen's Prop Insurance Corp.,Tower Hill Insurance Group

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Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.

State Farm Mutual Automobile Insurance Co.,Allstate Floridian Insurance Co.,Allstate Corp.,Nationwide Financial Services Inc.,Citizen's Prop Insurance Corp.,Tower Hill Insurance Group

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