ISO: Insurers to pay $6.5 billion in 2007 catastrophe claims
Tuesday, January 15th, 2008 Catastrophe PropertyU.S. property/casualty insurers are expected to pay homeowners and businesses $6.5 billion for 2007 property losses from 23 catastrophes — the eighth lowest cost in a decade and the seventh lowest frequency for the same period, according to preliminary analysis by ISO’s Property Claim Services Unit. PCS estimates that insurers paid 1.18 million claims for damage in 41 states resulting from 2007’s 23 catastrophes.
External References & Further Reading
http://www.insurancejournal.com/news/national/2008/01/14/86384.htm
