According to A.M. Best, the insurance lines that are likely to be hit by the hurricane are commercial multiperil, fire and allied, homeowners and auto physical damage.

In Louisiana and Texas, Allstate carries a respective 11% and 13% market share in Homeowners’ line of insurance and a 12.8% and 14% share each in Auto insurance.

Per the rating agency, property and casualty insurers and reinsurers are likely to suffer meaningful losses from Hurricane Laura. This hurricane-related loss is likely to place additional stress on the rated insurance companies’ balance

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