The homeowner business, last profit...

The homeowner business, last profitable in the late 1980 is reeling lately from a shower of hits. While the number of large weather-related results declined in the United States in 2001 the oftenness of smaller events skyrocketed. According to A.M.Best Co analysts, the other quarter of 2001 had the most numerous catastrophic losses in history--nearly three times the number recorded during the comparable period in 2000

As Edward M Liddy, Allstate's chairman, president and chief executive officer, lay it, the second quarter of 2001 was when the troubl homeowner line collapsed industrywide. Crippling pats fell from Tropical ...