Insured cat losses drop in third quarter: ISOPosted On: Nov. 2, 2006 12:00 AM CST
JERSEY CITY, N.J.U.S. catastrophes caused an estimated $971 million in insured property damage during the third quarter of this year, according to a preliminary estimate released Thursday by the Insurance Services Office Inc.'s Property Claim Services unit.
That compares with insured losses of $48 billion during the same period last year and $24 billion during the same period of 2004. Unusually destructive hurricane activity marked both previous third-quarter periods.
PCS estimates the seven catastrophes of this year's third quarter generated nearly 280,000 claims. Minnesota sustained the most damage of any state at $200 million, followed by Missouri at $113 million, Illinois at $112 million, New York at $76 million and New Jersey at $70 million.