Hardy Underwriting estimates cost of hurricanes

Lloyd's insurer Hardy Underwriting has estimated that its combined claims exposure for hurricanes Ike and Gustav, after reinsurance and reinstatement premiums, is $23m (£14.75m). It added its exposures have originated primarily from the southern coastal states most affected by Ike, with more modest losses arising from the inland territories. There were also small amounts attributable to offshore energy risks. It said in a statement: "The expected ultimate claims for the relevant classes of