Allstate has upped its projected losses from Superstorm Sandy to about $1.12 billion, but the insurer's CEO says the company has paid about 98 percent of submitted claims.
Thomas J. Wilson, CEO, president and chairman, said during a conference call to discuss 2012 fourth-quarter earnings that Allstate has received about 170,000 claims from Sandy, which struck the Northeast in late October.
Wilson said Sandy losses would have been "higher if we did not take actions to reduce [catastrophe] exposure" in the Northeast over the last several years.
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