|Targeted News Service|
Pre-tax estimates of Sandy catastrophe losses are shown in the following table.
The total gross loss estimate by state is 66% in
Loss estimates are generally based on claim adjuster inspections and the application of historical loss development factors to the extent we have been able to complete inspections in areas impacted by Sandy. Our loss estimates for Sandy are calculated in accordance with the coverage provided by our policies. Our homeowners policies specifically exclude coverage for losses caused by flood, but generally provide for coverage for physical damage caused by wind or wind-driven rain. Therefore, our homeowners estimates do not include estimates for losses caused by flood. Auto policyholders generally have coverage for physical damage due to flood if they have purchased optional auto comprehensive coverage.
Our catastrophe reinsurance program comprises several agreements. For a first event, our nationwide reinsurance agreement (which excludes
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