Philadelphia Consolidated Holding Corp.(PCHC) of Bala Cynwyd Penna. announced that the it expected net pretax losses resulting from the terrorist attacks on the World Trade Center to be between $1.5 and $2 million.
The
losses, mainly from business interruption coverage along with some exposures from personal property losses, business property and workers compensation, could reduce net income figures by 5 to 7 cents a share said the company.
CEO James J. Maguire said in a written statement that, “Aside from the relatively small financial loss the Company has experienced, the immeasurable loss of our friends and business associates has left me and our Company with a deep sense of loss and sorrow.”|”philadelphia, consolidated, sees, minimal, losses, from, sept., 11, attacks
Topics Profit Loss
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