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Insured cat losses drop in third quarter: ISO

Posted 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.