Source: Business Insurance
Matthew Lerner July 15, 2019 Hurricane Barry made landfall as a Category 1 hurricane early Saturday afternoon along the northern Gulf Coast after briefly becoming a hurricane only hours before landfall, but then weakened by early afternoon. State Farm Group has the largest exposure to commercial multiperil (nonliability) insurance in Louisiana with a 12.89% market share, almost twice that of Markel Corp. Group at 6.58%, according to data from A.M. Best Co. Inc. on Monday. In Mississippi, Travelers Cos. Inc. has the largest commercial multiperil exposure with a 11.59% market share, Nationwide Group is next at 8.95% and State Farm Group third at 6.95%, data showed. Data and analytics provider CoreLogic said it is waiting for the rainfall to slow to determine the flood footprint and get an accurate view of damages, according to an email from a spokeswoman.