If current projections prove accurate, U.S. P&C insurers will be digging deep into their pockets to pay third-quarter catastrophe losses.
According to a preliminary analysis by ISO's Property Claim Services (PCS) unit, insurers will dole out an estimated $11.5 billion to homeowners and businesses to cover third-quarter property losses. The losses stem from a total of 11 catastrophes in 22 states, which represents the fourth largest insured property loss in a third quarter since 1998.
PCS estimates the 11 catastrophes of third-quarter 2008 generated 1.7 million claims. Of the 11 catastrophes, six were caused by severe weather — wind, hail, tornadoes, and flooding. Five resulted from tropical systems and hurricanes.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 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.
