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Heritage Insurance expects $500M in losses from Hurricane Matthew

HeritageInsurance Holdings Inc. expects to take about $500 million inlosses resulting from Hurricane Matthew.

Heritage Chairman and CEO Bruce Lucas said the projected lossesare well within the company's $1.9 billion catastrophe reinsurance coveragetower.

Heritage Insurance's 2016-17 reinsurance program providesreinsurance protection of about $3.0 billion in catastrophic losses. It offersfirst event coverage up to $1.9billion in Florida, up to $1.1 billion in Hawaii and multiple eventcoverage up to $3.0 billion.