(by Ameli Berksman)

U.S. insurance companies, such as Allstate Corp., Ace Ltd. and others will suffer claim losses, which will not exceed $6 billion as compared with the expected sum up to $10 billion, storm modelers say.

“It’s a painful quarter for insurers, but something we can manage,” said Robert Hartwig, chief economist of the New York- based Insurance Information Institute. Insurers losses are really big I this quarter as recent Hurricane Charley cost them around $6.8 billion. Current losses from Frances are accounted for $3 billion to $6 billion.

Allstate and other insurance companies have limited their losses from Florida hurricanes by letting a state- chartered company insure the worst risks and by tapping a catastrophe fund created in 1993 that begins to pick up losses after they reach $4.5 billion. Specialists say they at last started learning a lesson.

Still, total Florida damage within uninsured properties, lost business activity and government buildings etc. can be as much as twice larger, specialists predict.