Fitch Ratings says the insurance industry should be able to manage losses from Hurricane Isaac, which, according to very early estimates, could range from $300 million to $7.5 billion.
State Farm and Allstate, which together control 39 percent of the homeowners market in the three most affected states (Louisiana, Mississippi and Alabama), according to SNL Financial figures, will likely suffer the brunt of the insured losses.
Combining Homeowners with auto physical damage, commercial auto and commercial multiple peril (liability) insurance, the two insurers control 37 percent of the market in the three states.
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Fitch cited an early AIR Worldwide estimate that puts insured losses from Isaac at possibly between $300 million and $7.5 billion.
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