JERSEY CITY, N.J.—Catastrophes caused an estimated $6.03 billion in insured property damages during the second quarter of this year, the Insurance Services Office Inc.'s Property Claim Services unit reported Monday.
That was nearly double the amount of catastrophe-related insured damage for the year's first quarter, and brought total 2008 catastrophe losses to almost $9.45 billion.
PCS estimates that 16 catastrophes, which it defines as events that cause at least $25 million in insured property damages and affect a "significant number of policyholders and insurers," occurred during the April-June period, giving rise to more than 1.2 million claims.
Texas sustained the largest catastrophe losses at $1.08 billion for the quarter. Minnesota came in second at $810 million, followed by Kansas at $578 million, Arkansas at $450 million and Oklahoma at $425 million.
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