Hurricane Floyd's Toll Rises to $1.8 Billion

Monday, January 15th, 2001 Catastrophe Property

Insurers are expected to pay $1.8 billion to Hurricane Floyd victims, according to revised estimates of insured property losses by Insurance Services Office, Inc.'s (ISO) Property Claim Services (PCS) unit. The revised estimate, following a resurvey of insurers, is up $500 million, or nearly 36 percent, from PCS' original estimate of $1.3 billion in September. The resurvey shows the number of claims filed by homeowners and businesses was 526,550, up 4.5 percent from the preliminary estimate of 503,700. ISO's PCS unit resurveys catastrophe losses about 60 days after issuing preliminary estimates if losses exceed $250 million or specific circumstances relating to a catastrophe require additional analysis.

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http://www.iso.com/press_releases/1999/12_06_99.html

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