Nationwide: Hurricane Damages Will Cost $850M

NU Online News Service, Nov. 15, 3:34 p.m. EST?Nationwide said it expects losses and loss adjustment expenses from the four hurricanes that hit the Southeastern United States this hurricane season to cost the company $850 million pre-tax, or $550 million on a post-tax basis.[@@]

This estimate is net of reinsurance recoveries from the Florida Hurricane Catastrophe Fund and includes storm-related claims caused by Hurricanes Charley, Frances, Ivan and Jeanne, the Columbus, Ohio-based carrier said.

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