Katrina: AM Best positive, but sees some downgrades
AM Best has stated that it expects that virtually all rated companies will be able to meet their commitments arising form hurricane Katrina, despite the projected magnitude of the potential losses, although it said that “a few individual companies’ ratings may be lowered”.
The ratings agency put the loss in perspective in relation to the US Property and Casualty sector as a whole, pointing out that “the high-end estimates for Katrina-related losses represent onlyOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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