U.S. property-casualty insurers sustained $2.18 billion in second-quarter losses from six catastrophes–among the lowest number of such events in years, said Property Claim Services.
An industry representative said as a consequence property insurance availability should improve and rates should decline.
The estimated total losses were the third lowest insured losses over the past 10 years, according to PCS, the subsidiary of Insurance Services Office in Jersey City, N.J.
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