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MASS. MOVERS

Lower damage estimate lifts insurers

August 30, 2011

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Hanover Insurance Group, of Worcester, rose yesterday along with competitors like Allstate Corp. and Travelers Cos. after Hurricane Irene’s estimated cost to insurers fell to about $2.6 billion as the storm lost strength as it reached New York, according to Kinetic Analysis Corp., a firm that predicts the effects of disasters. That compares with a projection last week of up to $14 billion in losses. “We are already on the ground, standing by, ready to quickly support our independent agent partners and their customers,’’ said Marita Zuraitis, the insurer’s president of property and casualty.