ISO: P-C First Qtr Cat Loss Low
Sunday, April 21st, 2002 Catastrophe Liability PropertyProperty-casualty insurers recorded their lowest first-quarter catastrophe loss in more than 10 years at $580 million, the Insurance Services Office in Jersey City, N.J. said yesterday. The figure covered insured property losses for homeowners and businesses from three catastrophe events during the period, according to preliminary estimates by ISO‘s Property Claim Services unit. ISO said the previous low first quarter was last year at $705 million. This year, ISO said, three events in 13 states generated slightly more than 240,000 claims--double the number of claims from three events in the same quarter last year--from one of the mildest winters on record with below normal snowfall, especially in the eastern part of the country.
External References & Further Reading
http://www.nationalunderwriter.com/pandc/hotnews/viewPC.asp?article=4_19_02_9_4847.xml
