The Erie Insurance Group announced that it has received loss notification from approximately 6,600 policyholders as a result of severe ice, snow and flooding Feb. 14-18 and Feb. 21-23, 2003. It gave preliminary loss estimates of around $25 million.
“Erie Indemnity Company, the management company for the Erie Insurance Group, will incur pre tax losses in its underwriting operations of approximately $1.4 million,” said the company. “The storm losses equate to approximately $0.01 per share, after taxes.”
Topics Profit Loss Windstorm
Was this article valuable?
Here are more articles you may enjoy.
Spirit Airlines Shuts Down After 34 Years, Blames Higher Oil Prices 
Ex-NFL Player Sentenced to 16 Years in Prison for $200M Medicare Fraud Scheme 
Health Officials Downplay Pandemic Risk From Cruise Hantavirus Outbreak 
Progressive Insurance Helps First-Time Homebuyers With Down Payments 
