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COPYRIGHT 2005 Voxant Inc.
Original Source: CNBC/DOW JONES BUSINESS VIDEO
JOE KERNEN, CNBC ANCHOR: All right, Allstate feeling the wrath of Katrina`s winds, posting a net loss of $1 1/2 billion in the third quarter and that reversed a profit of $56 million a year ago, and yet, we brace for another storm. We are joined now by Edward Liddy, Allstate`s Chairman and CEO.
Welcome, Mr. Liddy, good to see you.
EDWARD LIDDY, CHAIRMAN & CEO, ALLSTATE: Nice to be with you.
KERNEN: Here we are, you just came off a quarter at 10 times what you would imagine for a catastrophic events this past quarter, 10 times I read in your press release and yet, Wilma is bearing down on Florida. But Florida is not the same as the Gulf Coast for Allstate, is it?
LIDDY: No, it is not. We have more production in the state of Florida in terms of reinsurance and the existence of a Florida wind storm pool. So we`re in much better shape in Florida than we were in the Gulf Coast.
KERNEN: And...
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