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 that 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 Trends Florida Profit Loss
Was this article valuable?
Here are more articles you may enjoy.
Meta Loses Insurance for Defense in Major Social Media Addiction Litigation 
Travelers Stranded by War Learn Insurance Won’t Cover Flight Cancellations 
After Florida Charged People With Selling Insurance Licenses, 12 More Arrested 
Georgia Teacher Killed When Toilet Paper Prank by Students Goes Wrong 
