INSURANCE

S&P; Lowers Sears Rating: Standard & Poor’s Corp. lowered its rating on Sears, Roebuck & Co.’s commercial paper and said it may cut its rating on the company’s long-term debt. S&P; said losses at Sears’ Allstate Insurance Co. could hinder efforts to revitalize the company’s retail operations. The rating agency downgraded Sears’ commercial paper rating after Allstate raised its estimated loss for property damage from Hurricane Andrew by 43% to $1.65 billion after taxes. S&P; downgraded the commercial paper for Sears, Roebuck & Co., Sears Roebuck Acceptance Corp. and Discover Credit Corp. to A2. The lower ratings will make it more expensive for those units to borrow money.