Kemper Releases Catastrophe Loss Estimate for April, May 2014
Kemper Corporation announced today its preliminary estimate for catastrophe losses from severe storms in April and May 2014.
Kemper estimates its second quarter 2014 earnings will include pre-tax catastrophe losses in the range of $40 million to $50 million for the months of April and May 2014. The company does not expect to recover any of these losses under its catastrophe reinsurance program.
While the losses were related to a number of storms, the greatest losses were from a series of wind and hail storms between May 18 and May 23, which heavily impacted the company’s policyholders in Montana, Pennsylvania, Illinois, South Carolina and North Carolina.
Popular Today
- Work Safety Group Releases List of ‘Dirty Dozen’ Employers
- EVs Head for Junkyard as Mechanic Shortage Inflates Repair Costs
- Jury Awards $80M to 3 Former Zurich NA Employees for Wrongful Termination
- Beyond the Claim: How Social Canvassing is Transforming Insurance Fraud Detection
Popular This Month
- CoreLogic Report Probes Evolving Severe Convective Storm Risk Landscape
- California Chiropractor Sentenced to 54 Years for $150M Workers’ Comp Scheme
- Report: Vehicle Complexity, Labor ‘Reshaping’ Auto Insurance and Collision Repair
- Poll: Consumers OK with AI in P/C Insurance, but Not So Much for Claims and Underwriting