Frances Could Cost RLI $2.5 Million

Peoria, Ill.-based specialty insurer RLI Corp. has issued a preliminary range of losses from Hurricane Frances of $2 million to $2.5 million on an after-tax basis. This estimate is based on actual claim activity to date in addition to the company’s catastrophe management systems.

In its latest earnings release, RLI, rated “A+” (superior) by A.M. Best Co., reported statutory surplus of $595.2 million.