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The Property Claim Services unit of New Jersey-based Insurance Services Office Inc. estimates that U.S. property/casualty insurers will pay $11.5 billion in catastrophe claims for the third quarter.
Published on October 28, 2008
In a statement made by the PCS 11 catastrophes in 22 states produced 1.7 million claims in the period, which it noted was the fourth-costliest third quarter since 1998.
The state with the highest insured loss total was Texas, at $6.4 billion, followed by Louisiana, with $1.9 billion.
The 2008 nine-month insured loss total now stands at an estimated $22.1 billion.
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