The property-casualty insurance industry can count on having to endure a year of catastrophes inflicting insured losses nearly double last year's record of $58 billion, the industry's leading economist warned.
"We are on a trajectory for a $100 billion year," said Robert Hartwig, senior vice president for the Insurance Information Institute in New York.
Mr. Hartwig, speaking here at the annual National Council on Compensation Insurance seminar, did not say when this might happen, but gave the impression it could be soon–mentioning the recent increase in intensity and frequency of storms.
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