ISO: 'Unusual' CAT Loss Hit $12.8 Billion
NU Online News Service, Jan. 16, 11:42 a.m. EST?U.S. property-casualty insurers, after an uncommon season of weather catastrophes, paid out some $12.8 billion to homeowners and businesses for insured property losses in 2003. [@@]
It was the third-costliest year for CAT losses in the past 10 years, according to new estimates by Insurance Services Office's Property Claim Services. Overall, the damage levels were fairly unique according to a spokesman for the Jersey City, N.J.-based company.
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