Cincinnati Financial Corp. announced Friday that fourth-quarter reserves for losses incurred will include $110 million, net of reinsurance, for uninsured motorist claims. The additional reserves, amounting to 44 cents per share after tax as reported by Reuters news service, is the insurer’s estimate of past losses to be reported or paid in 2001 and beyond as a result of two Ohio Supreme Court decisions.
One decision related to Ohio business automobile policies covering employees and their family members, the news service reported, and the other related to forms used by insurance companies to allow policy holders to waive coverage.
Was this article valuable?
Here are more articles you may enjoy.
Miami Tech Investor Revives $3 Billion Real Estate Development 
Read 14-Point Draft Memorandum of Understanding Between the US and Iran 
Wanted: War-Zone Divers to Scrape Barnacles From Ships in Persian Gulf 
AM Best: Data Centers Pose Risks Beyond What P/C Industry Has Experienced 
