JERSEY CITY, N.J., January 14, 2008 — U.S. property/casualty insurers are expected to pay homeowners and businesses $6.5 billion for 2007 property losses from 23 catastrophes — the eighth lowest cost in a decade and the seventh lowest frequency for the same period, according to preliminary analysis by ISO’s Property Claim Services Unit.

PCS estimates that insurers paid 1.18 million claims for damage in 41 states resulting from 2007’s 23 catastrophes. More than 721,000 personal lines claims accounted for $4.4 billion, while 144,000 commercial lines claims cost an estimated $1.3 billion, and 315,000 vehicle claims cost insurers an estimated $800 million.

The 23 catastrophes consisted of 17 severe weather events (wind, hail, tornadoes, and flooding), five winter storms, and one wildland fire.

(source: ISO’s Property Claim Services Unit)