National Report
Wednesday, October 15th, 2003 Liability Litigation PropertyThe nation’s property and casualty insurers’ net claims arising from the Sept. 11, 2001, terrorist attacks reached $9.3 billion by the end of last year, compared to $8.5 billion reported through Dec. 31, 2001, according to Weiss Ratings. The revised figure was calculated after reviewing more than 2,150 financial statements filed with the National Association of Insurance Commissioners. The losses of $9.3 billion include claims from workers’ compensation, auto physical damage, commercial multi-peril, other liability, and aircraft. The insurer recording the largest dollar amount of net claims from the terrorist attacks was General Reinsurance Corp., based in Stamford, Conn. General Re received nearly $1.42 billion worth of net claims, a figure that represented 34.6 percent of capital and surplus for the company.
