BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.
To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.
To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.
JERSEY CITY, N.J.--Catastrophes caused an estimated $8.8 billion in insured property damage in 2006, the Insurance Services Office Inc.'s Property Claim Services reported Tuesday.
PCS said 33 U.S. catastrophes--which it defines as events that cause at least $25 million in insured property losses and that affect a significant number of policyholders and insurers--occurred last year.
The catastrophes generated more than 2.27 million claims, according to PCS. Personal lines accounted for 58% of the total number of claims, vehicle claims accounted for 33% and commercial lines claims accounted for 9%. In terms of dollar losses, personal lines claims accounted for 63% of the total; vehicles, 19%; and commercial lines, 18%.
Indiana sustained the heaviest insured losses at $1.5 billion followed by Missouri, at $878 million; Tennessee, at $873 million; Texas, at $688 million; and Kansas, at $601 million.
The $8.8 billion in 2006 insured losses represented a sharp decline from the hurricane-driven record $61.9 billion in 2005, but nonetheless registered as the sixth-highest total since 1997, according to PCS.
The frequency of catastrophe events rose last year to its second-highest level in a decade, PCS said.