Fairfield, Ohio-based Ohio Casualty Corporation Friday announced a preliminary estimate of its expected losses resulting from the New York terrorist attack Sept.11. The estimated pre-tax cost of claims is $5 to $7 million, net of reinsurance.
The member companies of Ohio Casualty Group have 35 policies in force in the Manhattan area south of New York University. President and CEO Dan R. Carmichael stated, “We anticipate most of the claims to be property-related, including business interruption.”
Topics Profit Loss Ohio Casualty
Was this article valuable?
Here are more articles you may enjoy.
Catastrophe Bonds’ Huge Market Gains Put Reinsurers on Backfoot 
Hurricane Melissa Churns Toward Jamaica as Category 5 Storm 
New York Hospital Insurer Files for Bankruptcy, Citing Child Sex Abuse Claims 
Suspects in Louvre Heist in Custody After Week-Long Manhunt 
