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    <title>Hurricane Harvey may cost US insurance $20bn - Nigeria Business News |Nigeria Financial News | Nigeria Economy News | Business News in Nigeria | Nigeria Stock Market News</title>

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<meta property="og:description" content="Insurance stocks were mostly lower Monday, as investors awaited the initial estimates of losses from hurricane Harvey, which devastated Texas over the weekend. &#8220;While it is early days and Harvey is expected to bring even more rain and flooding for another week, our best guess at this point is Harvey could result in $10-$20bn of &hellip;" />
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			 <span class="sep"><i class="fa fa-angle-double-right"></i></span> <span class="trail-end">Hurricane Harvey may cost US insurance $20bn</span>
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                            <div class="featured" itemprop="thumbnailUrl"><a href="http://www.businessnewsreport.com.ng/images/2012/02/insurance.jpg" rel="prettyPhoto" title="Hurricane Harvey may cost US insurance $20bn" property="image"><img width="260" height="194" src="http://www.businessnewsreport.com.ng/images/2012/02/insurance.jpg" class="img-responsive wp-post-image" alt="" title="Hurricane Harvey may cost US insurance $20bn" /></a>                </div>            <h1 class="post-title page-heading" itemprop="headline"><span class="h-title">Hurricane Harvey may cost US insurance $20bn</span></h1><div class="post-meta meta ">
        <span class="time"><i class="fa fa-clock-o"></i> <time class="post-published updated" datetime="2017-08-28T17:52:49+00:00" title="Monday, August 28, 2017, 5:52 pm">Aug 28, 2017</time></span>
                        <span class="post-author author" itemprop="author" itemscope="itemscope" itemtype="http://schema.org/Person"><a class="post-author-url" itemprop="url" href="http://www.businessnewsreport.com.ng/author/gabomoh/"><span class="post-author-name" itemprop="givenName"><i class="fa fa-user"></i> Business News Report</span></a></span>
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        <div class="the-content post-content clearfix" propname="articleBody"><p>Insurance stocks were mostly lower Monday, as investors awaited the initial estimates of losses from hurricane Harvey, which devastated Texas over the weekend.</p>
<p>&#8220;While it is early days and Harvey is expected to bring even more rain and flooding for another week, our best guess at this point is Harvey could result in $10-$20bn of industry insured losses making it one of the top 10 most costly hurricanes to hit the U.S.,&#8221; J.P. Morgan analyst Sarah DeWitt wrote in a Monday note.</p>
<p>CreditSights analysts said the most vulnerable lines of business include allied lines, commercial and private auto, commercial multiple peril, homeowners and farm owners multiple peril, crop mulitple peril, private crop, fire, flood and inland marine.</p>
<p>Among the companies that are most exposed to the region, Allstate Corp. shares fell 1.7%, Progressive Corp. shares were down 2.5%, Chubb Ltd. fell 1.6%, CNA Financial Corp. was down 0.5% and Hartford Financial Services Group Inc. was down 2%. RenaissanceRe Holdings Ltd. fell 1.8% and Everest Re Group Ltd. fell 2.5%. Dow Jones Industrial Average component Travelers Cos. Inc. fell 3%, to shave about 20 points off the price-weighted index.</p>
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