May 24, 2011
Hanover Pays For Wild Weather
By Brandon Butler
Wild weather ravaging through the southern United States is being felt locally as Worcester-based Hanover Insurance Group warned of ballooning catastrophic losses because of the events.
The Hanover Insurance Group reported that catastrophe losses are expected to be between $75 million and $80 million in the month of April because of five storms. Tornadoes and floods have swept through parts of the South and Midwest. The weather could go down as the most destructive in eight decades, according to the Property Claim Services, an internationally recognized authority on insured property losses.
During the first quarter of this year, catastrophic losses for The Hanover were up $15.3 million to $49.7 million.
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