COLUMBUS, Ohio, Aug. 30, 2011 /PRNewswire/ -- Hurricane Irene made its presence known on the East Coast over the weekend, leaving grim reminders in its aftermath. With the death toll currently at 38 and catastrophe models forecasting insured losses associated with Hurricane Irene for all states in the $3-6 billion range, the losses may seem relatively small when compared to Hurricane Katrina. Although the personal tragedies linked to Hurricane Irene are incalculable and inestimable, the property damage associated with Irene is finite and measurable.
Fortunately for homeowners affected in New York, insurers listed as the Top 10 homeowners multi-peril writers for 2010 have a thorough understanding of this market. The companies listed in the Top 10 for New York are all affiliated with well-respected and financially stable groups. Just the companies in four well known groups, State Farm, Allstate, Travelers and Liberty Mutual, accounted for almost 43 percent of the 2010 direct premium written for homeowners multi-peril in New York.
New York 2010 Direct Premiums Written – Homeowners Multi-Peril |
|||
1. |
State Farm Fire and Casualty Company |
$695,603,032 |
|
2. |
Allstate Insurance Company |
$359,381,352 |
|
3. |
Allstate Indemnity Company |
$251,570,713 |
|
4. |
Automobile Insurance Company of Hartford, CT |
$190,060,015 |
|
5. |
Great Northern Insurance Company |
$171,527,123 |
|
6. |
New York Central Mutual Fire Insurance Company |
$161,947,756 |
|
7. |
Liberty Mutual Fire Insurance |
$157,410,868 |
|
8. |
First Liberty Insurance Corp. |
$118,567,723 |
|
9. |
Metropolitan Property & Casualty Insurance Company |
$109,944,957 |
|
10. |
Travco Insurance Company |
$100,668,087 |
|
Subtotal – Top 10 |
$2,316,681,626 |
||
All others |
$2,040,462,901 |
||
Total |
$4,357,144,527 |
||
About Demotech, Inc.
Demotech, Inc. is a financial analysis firm located in Columbus, Ohio. Since 1985, Demotech, Inc. has been serving the insurance industry by providing actuarial consulting and accurate and proven Financial Stability Ratings® (FSRs) for Property & Casualty insurance companies and Title underwriters. FSRs are a leading indicator of the financial stability of a company. Our rating process provides an objective baseline and insight into the future solvency of a company. As an independent financial analysis firm, Demotech has a proven track record of predicting financial stability in the insurance industry. As the first company to have its rating process formally reviewed and accepted by Fannie Mae, Freddie Mac and HUD, Demotech has been leveling the playing field by offering FSRs to insurers of all sizes.
Visit www.demotech.com for more information.
SOURCE Demotech, Inc.
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article