Insurers To Pay Homeowners And Businesses An Estimated $3.7 Billion In Second Quarter Catastrophe Claims

According to ISO’s Property Claim Services (PCS) unit, property/casualty insurers are expected to pay homeowners, businesses and auto owners an estimated $3.7 billion in catastrophe claims for the second quarter of the 2006 year. At $6.2 billion, the second quarter of 2001 posted the greatest amount paid for catastrophe driven property losses in the last 10 years while this year’s second quarter ranks fourth highest in insured catastrophe claim payments for a second quarter over the past 10 years and brings total estimated catastrophe payments for the first half to $5.2 billion.