INSURANCE

Storm to Boost Insurers’ Payouts: The storm that lashed the Northeast with driving winds, rain and snow last week will also inflict damage on the insurance industry, already battered by a series of natural catastrophes this year. Insurance company officials say it is too early to say how big a hit they will take. They noted, however, that losses would be minimized because the most serious damage was flooding, which is covered by the federal National Flood Insurance Program. The storm damaged a larger area than Hurricane Andrew, said Gary Kerney, director of catastrophe services for Property Claim Services. But Kerney said the wind and rain were not as destructive as Hurricane Andrew.