JERSEY CITY, N.J. – A preliminary analysis by ISO's Property Claim Services unit reveals that U.S. property/casualty insurers are expected to pay an estimated $1.38 billion to homeowners and businesses in insured property losses from seven catastrophe events in the first quarter 2006.
In addition, catastrophes produced nearly 390,000 claims in 19 states. Three winter storms and four wind and thunderstorm events constitute the quarter's seven catastrophes-slightly above the average of six events during the past decade.
The quarter's costliest event was an outbreak of severe weather across six states from Kansas to Indiana. The insured damage is slightly more than $800 million and the claims count is in excess of 222,000. Here are a few more interesting numbers:
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