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Irene Losses Appear Less Than Worst-Case for Insurers
By Market News Video Staff, Monday, August 29, 8:32 AM ET
Hurricane Irene blazed a trail from North Caroline to New England over the weekend. While she caused plenty of damage from her punishing winds, heavy rains and resulting flooding, the ultimate course and strength of the hurricane was far from the worst-case scenario.
Insurers up and down the East Coast may be breathing a sigh of relief today that the damage was perhaps not as extensive as it might have been.
In pre-market trading Allstate (NYSE:ALL) shares are trading higher by 1.85%, and Travelers (NYSE:TRV) trades up 2.5%.
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