NEW YORK, Nov 12 (Reuters) - U.S. stocks extended losses on Thursday, with the S&P 500 index down 1 percent, as a fall in oil's price weighed on shares in the energy sector.

Insurers and banks also dragged on the benchmark index. The KBW insurance index was down 2.4 percent and the S&P financial sector fell 1.8 percent.

The Dow Jones industrial average .DJI dropped 91.98 points, or 0.89 percent, to 10,199.28. The Standard & Poor's 500 Index .SPX fell 10.93 points, or 0.99 percent, to 1,087.58. The Nasdaq Composite Index .IXIC lost 16.13 points, or 0.74 percent, to 2,150.77.

(Editing by Kenneth Barry)