Insurers Brace For Claims Post-Irene

Law360, New York (August 28, 2011, 7:50 PM EDT) -- With a reported $7 billion in property damage and commercial losses piling up in the wake of Hurricane Irene, insurers will be bracing for a flurry of claims from individuals and businesses, attorneys say.

Insured losses will account for as much as $3 billion, and total losses will likely be about $7 billion, the Associated Press reported. Estimated insured losses in South and North Carolina, where the storm hit hardest over the weekend, ran as high as $400 million, according to Eqecat, a disaster modeling agency....
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