Insurers Saw Record Gains in Year of Catastrophic Loss

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Insurers Saw Record Gains in Year of Catastrophic Loss
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They say the profits are a fluke, but the industry has worked to shift risk to clients and the public.

By Peter G. Gosselin
Times Staff Writer

April 5 2006

The companies that provide Americans with their homeowners and auto insurance made a record $44.8-billion profit last year even after accounting for the claims of policyholders wiped out by Hurricane Katrina and the other big storms of 2005, according to the firms' filings with state regulators.

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