P-C Insurers CAT Loss For Quarter: $4.9 Billion
NU Online News Service, July 28, 12:28 p.m. EDT?Severe thunderstorms and tornadoes that ripped through portions of the nation caused an estimated $4.9 billion insured loss claims during the second quarter, Property Claims Services said.
The company, a unit of the Jersey City, N.J. based Insurance Services Office, said the $4.9 billion is the second-highest for a second quarter period in the last nine years. In second-quarter 2001, nine events caused $6.2 billion in insured losses, making that quarter the worst second-quarter for weather catastrophe losses since 1994.
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