EMC Ups Q2 Reserves, Estimates Storm Losses
Des Moines, Iowa-based EMC Insurance Group announced that it will strengthen its bulk loss and settlement expense reserves by about $2.9 million for the second quarter. The company also estimated additional storm losses of $4.1 million for a 2004 total of $5 million, compared to $10.3 million through June 2003.
EMC said the reserve action was taken after a regularly scheduled actuarial analysis of the company’s books.
Popular Today
- TikTok’s New Owner Stands to Inherit 1,500 Safety, Privacy Suits
- AI Beats Traditional Weather Models in Forecasting Wildfires
- Family of Canadian CEO Killed in Helicopter Crash Files $35 Million Lawsuit
- Fed’s Powell Says Tariff Impact Likely to Be Larger Than Expected
Popular This Month