ISO: Quarterly Cat Loss Totals $1.97 Billion
NU Online News Service, July 26, 11:59 a.m. EST? Insured property losses from 10 catastrophe events in the second quarter will cost carriers an estimated $1.97 billion this year--far less than in the same period last year, according to the Insurance Services Office, Inc. in Jersey City, N.J.
ISO's Property Claim Services unit, which made the preliminary calculation of payouts to homeowners and businesses, reported that except for the late-June Arizona wildfires, all second-quarter events were caused by the wind, hail, tornadoes and flooding that accompanied strong thunderstorms.
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