New York (
) -- Hurricane Paula could cause some heavy storms in mid and lower Florida Thursday. The hurricane is expected to move inland through Cuba and downgrade to a tropical storm by later Thursday, according to the U.S. National Hurricane Center.
Losses from Hurricane Paula are projected to be less than $200 million, according to a report by EQECAT.
The largest property and casulty insurers in Florida, according to our
interactive hurricane map
American International Group
So far this hurricane season, property and casualty insurers have made off without substantial losses. Hurricane season ends in November and if these insurers steer clear of extensive starm damage claims, many are likely to use the extra capital to make acquisitions or buybacks next year.
--Written by Maria Woehr in New York.
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