Preliminary gross income losses of from $500,000 to $1.2 million have been predicted by the Vesta Insurance Group of Birmingham, Ala. for damages caused by Hurricane Katrina.
Vesta’s Florida Select unit has about 3,500 in-force windstorm policies in South Florida where the hurricane first made landfall.
A company spokesperson said Vesta does not have any exposure on policies in Louisiana or Mississippi and only expects to have minimal claims in surrounding states.
Vesta’s Units include Florida Select, Texas Select, California Select and the Shelby and Vesta Insurance Companies. The company specializes in home and auto products.
Topics Florida Profit Loss
Was this article valuable?
Here are more articles you may enjoy.
Insurers Are ‘Actively Evaluating’ New Catastrophe Risks as Europe Burns 
FTC Sues Hims & Hers for Sending User Health Info to Meta, Snap 
‘Tow Godz’ and Auto Glass Businessmen Charged in Carolina Fraud Schemes 
Brown & Brown Estimates Cost of Howden-Driven Talent War Could Hit $60M in 2026 From This Issue
