business newsAs the Market Opens, Insurance, Utilities Face Huge Bills [VIDEO]
By
DailyFinance Oct 31, 2012 10:10 am
Property and auto insurers such as State Farm, Allstate, and Berkshire Hathaway could take a hit. One estimate says the industry could be on the line for up to $10 billion in damages.
PRINT
Trading resumes after a two-day break for Sandy. Insurance companies may have to pick up billions of dollars in losses. Property and auto insurers such as State Farm, Allstate (NYSE:ALL), and Berkshire Hathaway (NYSE:BRK.A) could take a hit. One estimate says the industry could be on the line for up to $10 billion in damages.
Utilities face a huge bill for the clean-up and getting customers back on-line. ConEd (NYSE:ED) in New York says it suffered the worst damage in its history. There’s also PSE&G, Exelon (NYSE:EXC), and others.
For more, click on the image below to play the Daily Finance Market Minute video.
Utilities face a huge bill for the clean-up and getting customers back on-line. ConEd (NYSE:ED) in New York says it suffered the worst damage in its history. There’s also PSE&G, Exelon (NYSE:EXC), and others.
For more, click on the image below to play the Daily Finance Market Minute video.
No positions in stocks mentioned.
Daily Recap
Everything you need to know for the next trading day.
Trading Radar (weekly)
Your road map to all the events that will effect financial markets in the week ahead.
Name
Email
*
Phone
* required field
