Document Type

Article

Publication Date

9-17-2004

Abstract

Insurance industry observers say Hurricane Ivan, the latest major hurricane to strike the United States this year after hurricanes Charley and Frances, could be the second-costliest storm in U.S. history. According to Fitch and Eqecat, an Oakland, Calif.-based catastrophe management firm, Ivan could create insured losses of $4 billion to $10 billion. With more tropical storms brewing in the Atlantic and Pacific Oceans, insurers may be gearing up to record losses this quarter, analysts say.

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