February 14, 2018 / 3:12 PM / 11 days ago

U.S. insurers seek steep rate hikes for companies hit by catastrophes

(Reuters) - U.S. commercial insurers are seeking double-digit rate hikes in catastrophe-prone areas, broker Willis Towers Watson (WLTW.O) said in a report on Wednesday.

Companies that have already suffered catastrophe losses are facing rate hikes of 20 to 25 percent, while those in catastrophe-prone areas face hikes of 10 to 20 percent, Willis Towers Watson said.

Reporting by Suzanne Barlyn; Editing by Bernadette Baum

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