U.S. property and casualty insurers are expected to pay homeowners and businesses an estimated $2.1 billion for insured property loss claims from eight catastrophes in the first quarter of 2005, according to Property Claim Services.

This year's first-quarter catastrophe totals were the second costliest since the first quarter of 1996, when the industry suffered losses of $2.6 billion. First-quarter catastrophe losses in the same period last year were $1.04 billion.

Year – Loss ($) Frequency

1996 – $2,555,000,00011
2005 – $2,135,000,0008
2000 – $1,980,000,0007
1999 – $1,865,000,0005
2003 – $1,475,000,0005
2004 – $1,035,000,0005
1998 – $1,005,000,00010
1997 – $860,000,0008
2001 – $680,000,0003
2002 – $615,000,0003

PCS estimates that the eight catastrophes will generate 535,000 claims from policyholders in 28 states, 61 percent of which are for personal property, 14 percent for commercial property, and 25 percent for damages to vehicles. The quarter's costliest catastrophe was the series of thunderstorms that pummeled the South and the East Coast in late March, causing an estimated $655 million in losses. Texas, at $565 million, headed the list of the five most severely affected states, followed by California at $275 million, Georgia at $220 million, Alabama at $150 million, and Pennsylvania at $120 million.

Special Reports /

First-Quarter Cat Losses Cost Insurers $2.1 Billion

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