The damage figures are beginning to roll in from Sunday's earthquake that struck Hawaii and its edging into the hundred of millions, but insurance carriers do not know yet what the insured losses will be.
The Insurance Services Office, Inc.'s, Gary Kerney, assistant vice president of Property Claim Services, said there is not enough information about the quake for the unit to declare a catastrophe as of now. He said they are continuing to research the incident. PCS is a unit of Insurance Services Office in Jersey City, N.J.
According to National Underwriter's Highline Data Service, in 2005 there was more than $4.4 million in direct written premium for earthquake insurance in the state. The top two underwriters of that coverage were American International Group, with less than 21 percent of the market, and Ace American Insurance Company with more than 18 percent of the market.
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