INSURANCE

State Farm Adds $1.3 Billion to Loss Estimate: State Farm Fire and Casualty Co. added the $1.3 billion to its already huge loss estimates from Hurricane Andrew, bringing the company’s estimated loss for the storm to $3.4 billion. State Farm was the second insurer last week to increase dramatically its loss estimates from the nation’s most costly catastrophe on record. Allstate raised its estimate on Thursday to $2.5 billion from $1.73 billion. Before the revisions, the insurance industry had put a $10.7-billion price tag on the smashed homes, businesses and other properties.