Search
 

Guy Carpenter Summarizes Wilma's Impact

Claims News Service, Nov. 30, 9:17 a.m. EST -- Hurricane Wilma caused an estimated insured loss of $6.1 billion in Florida, pushing 2005 catastrophe losses in the United States to a record $50.3

By Staff Writer | Updated on November 30, 2005

Claims News Service, Nov. 30, 9:17 a.m. EST — Hurricane Wilma caused an estimated insured loss of $6.1 billion in Florida, pushing 2005 catastrophe losses in the United States to a record $50.3 billion, according to ISO’s Property Claim Services (PCS) unit. PCS said that insurers expect to receive more than 750,000 claims from policyholders for damage to homes, businesses, vehicles and boats caused by the storm. PCS added that losses from this year’s three most devastating hurricanes (Katrina, Rita, and Wilma) reached $45.2 billion, or 90 percent, of the total catastrophe loss from 22 events. The organization warned that 2005 losses are likely to climb with additional claims expected for the three hurricanes and possible winter storms.

Wilma was a large Category 3 storm at landfall with sustained winds of 120 miles per hour, the NHC said. Wilma weakened to a Category 2 storm as it moved across south Florida before exiting the peninsula through Palm Beach County. Hurricane-force winds extended 100 miles from the center of the storm as it moved through the state.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.