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Traffic blocked for Highway 42 northbound at I-43 intersection due to tipped tanker truck

TOWN OF SHEBOYGAN, WI (WHBL) -  Traffic is closed to part of the I-43/Highway 42 intersection due to a tipped tanker truck at one of the roundabouts. The incident occurred around 9:45 this morning on the south roundabout, the one closer to Texas Roadhouse and Hardees.  Sheboygan County Sheriff's Sgt. Doug Tuttle said the situation is not hazardous and no major leakage from the tanker is taking place. For now, all traffic on Highway 42 towards Howards Grove at the roundabout is clo...

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AIG sees at least $1.3 billion Sandy loss, more than peers

The logo of American International Group Inc. (AIG) on the outside of their corporate headquarters in New York, November 10, 2008. REUTERS/M
The logo of American International Group Inc. (AIG) on the outside of their corporate headquarters in New York, November 10, 2008. REUTERS/M

(Reuters) - Insurer American International Group Inc on Friday said it expects after-tax losses of at least $1.3 billion from Superstorm Sandy, a much bigger hit than some of its largest peers have reported.

The figure is double what Travelers Cos Inc said it expected to lose from Sandy and 20 percent more than Allstate Corp forecast for its losses.

AIG said the loss, which is net of reinsurance recoveries, would be reflected in the fourth quarter. The company will contribute $1 billion from existing funds to its U.S. property insurance subsidiaries to help cover the losses.

Sandy, which struck the Northeast region on October 29, is expected ultimately to be the second-costliest catastrophe in U.S. history, with insured loss estimates as high as $25 billion. The costliest catastrophe was Hurricane Katrina in 2005.

AIG shares fell 1.2 percent to $33.72 in after-hours trading.

(Reporting By Ben Berkowitz; editing by Carol Bishopric)

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