National Association of Insurance Commissioners officials said that while the damages from Hurricane Katrina may set record losses, the property casualty industry maintains that adequate capital and liquidity exist to meet the challenge.
State financial analysts are well underway assessing the financial and operational impact of Hurricane Katrina on insurers.
"These financial results demonstrate that insurers are up to the task of making good on the promises that they have made to the American businesses and consumers through their insurance policies," said Diane Koken, NAIC president and Pennsylvania insurance commissioner.
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