The chief of California's state-run earthquake insurance agency says residents there have no financial protection if a big quake hits.» Read More
Companies like environmental cleanup specialist Clean Harbors, building supply chains Home Depot and Lowe's, building products makers Owens Corning and Beacon Roofing and generator manufacturer Generac Holdings surged in early trading, on the assumption that the recovery from Sandy will take years and boost sales.
LONDON, Oct 30- Investors who have put their money into specialist financial bonds which cover insurance companies from huge natural disasters are unlikely to be hit with big losses from monster storm Sandy even though it is one of the biggest ever to hit the United States.
Travelers is the third-largest insurer in New York for both personal home and auto and commercial lines of insurance, and the second-largest in Connecticut. Weather is unlikely to interfere with claims processing, a spokesman said, even though the company is headquartered in New Jersey, Chubb has a major center in Arizona that can handle claims as needed.
NEW YORK, Oct 27- Hurricane Sandy is charging up the East Coast as a cold front is tearing across the U.S. from the west and an arctic blast is barreling down from the north. Valerie Dziengiel isn't worried one bit.
WARREN, N.J.-- Property and casualty insurer Chubb's third-quarter net income more than doubled, benefiting from fewer losses from catastrophes, rate increases and a strong underwriting performance. Chubb reported $17 million in catastrophe losses during the quarter.
BOSTON-- Shares of property insurers fell more sharply than the broader market on Friday as investors weighed the potential for heavy damages from Hurricane Sandy, which was heading north from Haiti and Cuba toward the East Coast.
Analysts say the rally in insurers is not out of gas, reports CNBC's CNBC's Mary Thompson. In fact, many of them are pushing through modest rate increases.
*Barclays raises Allied World Assurance Company price target to $72. *Barclays raises Allstate Corp price target to $45 from $41; rating. *Barclays raises Arch Capital Group Ltd price target to $48 from $46;.
Shares of the following companies are showing unusual moves in Friday's trading session.
It's still an open question whether stocks are heading into an extended bear market or if the severe pullback this summer from the highs in late April is a just correction phase in a larger bullish pattern.
Loss estimates from Hurricane Irene continued to fall and ratings agencies said insurers would have no problem with claims, helping boost insurance industry shares Wednesday.
Hurricane Irene was the 'Perfect Storm' for insurers in a different sense of the cliche. The weakened storm that spared New York city from major damage gave the wealthy and rarely hit Northeast enough of a scare because of ominous weather forecasts leading up the storm that property insurers will be able to raise pricing even more next year, according to a Morgan Stanley analyst.
With more than 50 million people potentially in Hurricane Irene's path, residents along the US east coast stocked up on food and water and worked to secure homes, vehicles and boats.
Hurricane Irene is expected to cause billions of dollars in damage in 14 states along the eastern U.S. seacoast, but property/casualty insurance companies are not expected to see much of a hit from damage claims.
At this run rate, we're not going to do 8-10 billion shares in total volume in NYSE stocks, like we have recently. But we will do well north of 5 billion, still better than the roughly 3.8 billion on a typical day.
What follows is a roundup of corporate earnings reports for Thursday, April 21.
What follows is a roundup of corporate earnings reports for Thursday, Jan. 27.
Stocks bounced off the lows of the session but ended lower as disappointing economic news halted the market's rally and as Merck dragged down the Dow amid problems with a key blood-clotting drug. Merck and Alcoa slumped, as Home Depot rose.
Stocks slumped more in the final hour of trading as disappointing economic news halted the market's rally and a disappointing drug trial for Merck dragged down the Dow. Merck and Alcoa fell, while Home Depot rose.
More companies are expected to raise their dividends come 2011, and the increases should be bigger, says Howard Silverblatt, Senior Index Analyst at S&P Indices.