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 Profit Loss Florida
Was this article valuable?
Here are more articles you may enjoy.
New York Hospital Insurer Files for Bankruptcy, Citing Child Sex Abuse Claims 
‘Massive Legal Siege’ Against Social Media Companies Looms 
Old Republic to Acquire Small Farmowner Insurer Everett Cash Mutual 
Rotting Apple: Berkley Explains Property Market, Company Appetite 
