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ISO Estimates $11.5 Billion In 3Q Cat Property Losses

U.S. property-casualty insurers will likely pay around $11.5 billion to homeowners and businesses due to third-quarter property losses from catastrophes, ISO's Property Claim Services Unit (PCS) said.

By Staff Writer | Updated on October 27, 2008

U.S. property-casualty insurers will likely pay around $11.5 billion to homeowners and businesses due to third-quarter property losses from catastrophes, ISO’s Property Claim Services Unit (PCS) said. In total, the catastrophes generated 1.7 million claims, PCS estimated.

The quarter saw a total of 11 catastrophes affecting 22 states, PCS said. The $11.5 billion represents the fourth-largest insured property loss in a third quarter since 1998.

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