Claims News Service, Nov. 30, 9:17 a.m. EST -- Hurricane Wilma caused an estimated insured loss of $6.1 billion in Florida, pushing 2005 catastrophe losses in the United States to a record $50.3 billion, according to ISO's Property Claim Services (PCS) unit. PCS said that insurers expect to receive more than 750,000 claims from policyholders for damage to homes, businesses, vehicles and boats caused by the storm. PCS added that losses from this year's three most devastating hurricanes (Katrina, Rita, and Wilma) reached $45.2 billion, or 90 percent, of the total catastrophe loss from 22 events. The organization warned that 2005 losses are likely to climb with additional claims expected for the three hurricanes and possible winter storms.

Wilma was a large Category 3 storm at landfall with sustained winds of 120 miles per hour, the NHC said. Wilma weakened to a Category 2 storm as it moved across south Florida before exiting the peninsula through Palm Beach County. Hurricane-force winds extended 100 miles from the center of the storm as it moved through the state.

President Bush declared Florida a major disaster area after the storm ripped roofs off buildings and downed power lines. The hurricane also brought huge storm surges and rainfall of up to 10 inches. At least 10 deaths were attributed to the storm and around six million people lost. According to the U.S. Census Bureau, around 10.2 million people in Florida, or 60 percent of the state's population, live in counties that were hit by Wilma.

Reports said the wealthy city of Naples in Collier County felt the full force of the storm. Wilma then raced across the state, causing damage from Palm Beach to Miami, and as far south as Key West. There were several reports of property damage in Fort Lauderdale, Miami, and Miami Beach. Officials in Marco Island said around 30 percent of homes in the area sustained roof damage.

Wilma's outer bands of rain also caused street flooding in south Florida, including Key West where damage to residences and businesses was reported. Mayor Jay Gewin said 35 percent of the island city was inundated with floodwaters reaching up to five feet. City Manager Julio Avael said Key West sustained up to $100 million in damage. Several tornadoes also touched down in central Florida.

Sources: National Hurricane Center, Associated Press, Reuters News, Agence Presse France, BBC News, CNN News, AFX International Focus, Risk Management Solutions (RMS), The New York Times, Insurance Day, Business Insurance, The Wall Street Journal

This report was reprinted with permission. For more CAT-i reports and further information on the service, please click http://www.guycarp.com.

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