2003 Was ?Moderate' Cat Year: Swiss Re
NU Online News Service, Dec. 19, 3:57 : p.m. EST
Insured property losses from natural catastrophes and man-made disasters in 2003 amounted to about $17 billion, Swiss Re reported. That figure is significantly less than recent record years?such as the $36 billion (including Hurricane Andrew) in 1992; the $35 billion, including 9/11 losses, in 2001; and the $34 billion, including storms Lothar and Martin, in 1999, noted Swiss Re.
In the United States, the worst catastrophes in terms of insured losses were: the tornadoes and hailstorms that hit the Midwest in May, $3.2 billion; the California wildfires in October, $2.1 billion; and Hurricane Isabel along the Atlantic Coast in September, $1.7 billion.
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