Claims News Service, Jan.27, 9:25 a.m. EST — The final tally is in: U.S. property/casualty insurers are expected to pay homeowners and businesses a record $56.8 billion for 2005 insured property losses from 24 catastrophic events. That's more than twice the prior record set in 2004, when insurers paid $27.3 billion in catastrophe claims, according to ISO's Property Claim Services unit.
The organization also reports that policyholders in 39 states filed more than four million personal and commercial property and automobile claims. Five states accounted for more than 80 percent of those claims and almost half the dollar loss. Unsurprisingly, they are:
Louisiana, $27.2 billion
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
