Insurers Expected To Pay $1.38B For Q1 Cat Losses

Friday, April 21st, 2006 Catastrophe Property

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 first-quarter 2006. PCS estimates that the seven catastrophes produced nearly 390,000 claims in 19 states. Personal lines claims accounted for 53 percent of the total, 12 percent for commercial lines claims and 35 percent for auto claims. The large number of vehicle claims stemmed from hail and tornado damage.

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http://www.insurancejournal.com/news/national/2006/04/20/67454.htm

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