S&P, Best: Gustav’s impact minimal - but storm losses are cumulative

Thursday, September 4th, 2008 Auto Catastrophe Property

Both Standard & Poor’s Ratings Services and A.M. Best have issued statements following the passage of Hurricane Gustav, which indicate that the storm’s impact on the industry will not be nearly as severe as many had feared. S&P said that from preliminary reports it’s estimated that "insured losses from Gustav will likely be $3 billion-$6 billion onshore and $1 billion-$4 billion offshore."

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http://www.insurancejournal.com/news/national/2008/09/03/93320.htm

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