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Member, Beacon International Group, Ltd.
JERSEY CITY, N.J.--Catastrophes have caused an estimated $3.43 billion in insured property damage in the United States during that first half of the year, according to the Insurance Services Office Inc.'s Property Claim Services unit.
That includes $2.18 billion in estimated losses during the year's second quarter announced Tuesday by PCS.
PCS said six catastrophes--defined as events that cause at least $25 million in insured property losses and that affect a significant number of policyholders and insurers--occurred during the second quarter of the year. The costliest catastrophe of the period took place in mid-April, when strong winds, hail, tornadoes and flooding caused an estimated $1.23 billion in insured damage across 18 states and in the District of Columbia.
Texas suffered the greatest amount of insured damage from catastrophes during the period, with $435 million in losses. It was followed by Minnesota at $322 million, Kansas at $210 million, New Jersey at $160 million and New York at $130 million.