News - Zurich to face $600m Katrina cost
Posted on February 27, 2008 in the Finance insurance category
has said that damage caused by Hurricane Katrina in the US will cost it about $600m (341m) in claims.
However, Zurich cautioned that the final amount could yet change.
Some auto finance insurance say the total damage caused by Katrina could cost the insurance industry $60bn as a whole.
“The task of estimating Katrina claims payments at this stage involves zuerich insurance finance judgement calls,” the company said.
Zurich is the latest insurer to put a figure on the cost of last month’s storm, and it added that the claims were likely to be registered in its third quarter.
Munich Re, the world’s zuerich insurance finance
insurance premium finance
firm, said last week that faces a bill for $782m in the wake of both Hurricane Katrina, and the much weaker Hurricane Rita.
Comments
Leave a Comment
You must be logged in to post a comment.