Philadelphia Consolidated Reports Dennis Losses
Philadelphia Consolidated Holding Corp. has reported its initial estimate of losses attributable to Hurricane Dennis.
Although claims information is preliminary, the company estimates its net after-tax losses to be approximately $2.3 million. The company further announced that the catastrophe losses due to Hurricane Dennis primarily impacted its personal lines mobile homeowners and homeowners books of business.
Additionally, as a result of utilizing certain catastrophe reinsurance
coverage in connection with this hurricane event, the company will recognize approximately $1.0 million, after-tax, in catastrophe reinstatement premium expense during the third quarter 2005.
Popular Today
- Jury Awards $80M to 3 Former Zurich NA Employees for Wrongful Termination
- California Sees Two More Property Insurers Withdraw From Market
- EPA Designates PFAS Chemicals as Superfund Hazardous Substances
- Beyond the Claim: How Social Canvassing is Transforming Insurance Fraud Detection
Popular This Month
- Ship Owner in Bridge Collapse Seeks to Limit Its Liability
- CoreLogic Report Probes Evolving Severe Convective Storm Risk Landscape
- Mother of 8-Year-Old ‘Violently Sucked’ into Houston Hotel Pool Files Wrongful Death Suit
- Poll: Consumers OK with AI in P/C Insurance, but Not So Much for Claims and Underwriting