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Thursday, April 26, 2007
ISO Reports on First Quarter Catastrophe Claims
By host @ 10:54 PM :: 3539 Views :: 0 Comments :: Article Rating :: Home
 

From the ISO Press Release;

"U.S. property/casualty insurers are expected to pay an estimated $1.22 billion to homeowners and businesses in insured property losses from seven catastrophe events in first-quarter 2007, PCS reported.

PCS also estimated that the four winter storms and three severe weather events produced nearly 204,000 claims in 18 states from California to Florida during the period.

The quarter’s costliest event occurred in early March, when tornadoes raked areas of Alabama and Georgia. While the damage from this harsh weather outbreak cost insurers more than $450 million, a more serious impact was the loss of life associated with the severe tornado activity in areas such as Enterprise, Alabama, and Americus, Georgia.

Of the 18 states, the five with the largest insured property losses were Georgia ($285 million), Alabama ($175 million), Texas ($167 million), Missouri ($140 million), and Florida ($100 million).

Following is the breakdown of first-quarter catastrophe activity during the past decade:"

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