Fitch Ratings: Modest Insurance Losses from Hurricane Dean.CHICAGO -- Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. said Monday that losses from Hurricane Dean, despite having been a Category 5 storm, expect to be manageable for the insurance industry. Preliminary estimates of insured losses range from a low of $750 million to a high of $2 billion, Fitch said in its report entitled en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: , 'Hurricane Dean: Preliminary Analysis'. Losses could have been much worse but, fortunately, Dean made landfall land·fall n. 1. The act or an instance of sighting or reaching land after a voyage or flight. 2. The land sighted or reached after a voyage or flight. in a relatively rural portion of Mexico, missing most population and tourist centers. Fitch said it believes most of the losses will be commercial insurance losses in Jamaica and, to a lesser extent, Mexico. Further, Fitch expects a substantial portion of the insured loss to be borne by global reinsurers who typically have significant financial strength. Fitch's special report, 'Hurricane Dean: Preliminary Analysis' is available at www.fitchratings.com. Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used. In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide. of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are also available from the 'Code of Conduct' section of this site. |
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