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.
Florida Committees Approve MGA, Litigation Funding Restriction Bills 
Florida House Panel Approves Bill to Waive Permits on Work of Less Than $7,500 
China Plans $29 Billion Capital Injection Into Biggest Insurers 
Longtime Alabama Dentist Charged With Insurance Fraud in 2025 Office Explosion 
