RLI Estimates Katrina Losses

RLI Corp. announced an estimated range of pretax losses from Hurricane Katrina of $15 million to $19 million, net of reinsurance ($0.37 to $0.47 per diluted share, after tax). This is based on projections by the company’s catastrophe management systems and claim activity to date.

The company expects most of its reported losses to be in the commercial property, program, construction and marine lines of business.

RLI, a specialty insurer based in Peoria, Ill., offers a diversified portfolio of property and casualty coverages and surety bonds serving “niche” or underserved markets. RLI operates in all 50 states from 23 office locations.