A.M. best comments on hurricane Katrina's impact.In response to Hurricane Katrina  Editing of this page by unregistered or newly registered users is currently disabled due to vandalism. , A.M. Best Co. has begun to
aggregate public and private information in order to assess the
financial impact it will have on the global property/casualty insurance
and reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. industry. A.M. Best expects that virtually all rated
companies will be able to meet their commitments, despite the projected
magnitude magnitude, in astronomy, measure of the brightness of a star or other celestial object. The stars cataloged by Ptolemy (2d cent. A.D.), all visible with the unaided eye, were ranked on a brightness scale such that the brightest stars were of 1st magnitude and the of the potential losses, although a few individual
companies' ratings may be lowered.
In addition to industry aggregate information, A.M. Best continues to be aware of Hurricane hurricane, tropical cyclone in which winds attain speeds greater than 74 mi (119 km) per hr. Wind speeds reach over 190 mi (289 km) per hr in some hurricanes. Katrina's impact on specific companies, and is focused initially on those organizations with the largest market share exposure relative to their surplus. As part of A.M. Best's analysis, each company is evaluated on its ability to withstand the impact from a major catastrophic event. |
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