Insurers spared direct hit by Ivan
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Insurers breathed a sigh of relief yesterday as Hurricane Ivan skirted New Orleans as well as the heart of the Gulf of Mexico&#39;s oil region, saving the companies billions of dollars in claims.
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After Hurricane Ivan pummeled a wide swath of land along the Gulf of Mexico Thursday, some US insurers swamped by the third major hurricane of 2004 might find their profits gone with the wind.
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"The relatively low losses can be explained by the tracks of the hurricanes _ no major hurricanes reaching the US mainland, as in 2006"  Losses to insurers from natural disasters nearly doubled this year to just below $30 billion globally after an unusually quiet 2006, a leading reinsurer said Thursday, from winter storms in Europe, flooding in Britain and wildfires in the U.S.Munich Re warned that climate change could mean a growing number of weather-related catastrophes in coming years.'The trend in respect of weather extremes shows that climate change is already taking effect and that more such extremes are to be expected in the future,' board member Torsten Jeworrek said in a statement. 'We should not be misled by the absence of megacatastrophes in 2007.' Read more
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Association of British Insurers warns that cover may not be offered to up to 1m homes built on floodplains
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Insured losses in the United States from  Hurricane Ivan are expected to range from $3 billion to $6  billion, a risk assessment group said on Wednesday.
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NEW YORK -- Hurricane Ivan held its grip on oil markets Tuesday as shutdowns of production platforms in the Gulf of Mexico and fears of storm damage drove crude and gasoline prices higher.
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Description: The devastation of hurricane Andrew in 1992 put a number of insurance companies in the red. To prevent further financial wreckage, insurers have revamped the industry so that they pay less of
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The remnant of Hurricane Ivan is  making its presence felt among utility companies along the U.S.  East Coast this weekend.
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Many homeowners in the Orlando area suffered a double blow when hurricanes Charley and Frances struck in quick succession. Now, they&#39;re smarting from a financial one-two punch - two insurance deductibles.
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Hurricane Ivan spared Jamaica a direct hit Saturday, suddenly turning away from the island&#39;s shore, but the fierce rains and winds that it did deliver still
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Though high winds and flooding  generated billions of dollars in damage in Florida, Hurricane  Frances is expected to be less costly for insurers than feared,  analysts and industry officials said on Monday.
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HOME furnishings firm Courts yesterday issued a profits warning after Hurricane Ivan delivered a blow to its trading. The London-based company, which has 91 stores in the Caribbean, said the storm forced the
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Hurricane Ivan, which slammed into the US Gulf coast today, may cost insurers $4 billion to $10 billion, rivaling hurricanes Charley and Frances, Risk Management Solutions Inc.
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At least 9 persons were reported to have died on the Caribbean Island of Grenada, following a direct hit from Hurricane Ivan. A report from the BBC, delayed because of damage to communications facilities, said
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Carolyn Roberts was ready for heavy wind and rain as the remnants of Hurricane Ivan approached northwest Georgia, but she didn&#39;t anticipate storm-driven sticker shock at the gas pump.
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Hurricane Ivan looks set to cost tour operators as they race to get customers out of harm's way, though future bookings may not suffer too much.
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As oil and natural gas producers  recover from Hurricane Ivan, energy companies and weather  forecasters were carefully watching on Tuesday a remnant of  last week's storm for signs of strengthening as it crosses the  Gulf of Mexico.