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9/11 losses reach $9.3 billion

Claims against America’s property and casualty insurers arising from the September 11 terrorist attacks in 2001 reached $14.3 billion by the end of 2002, compared with the $13.1 billion reported at the end of 2001.

US ratings and analysis provider Weiss Ratings, which had studied the financial statements filed with National Association of Insurance Commissioners, found General Reinsurance Co and National Indemnity Co, both owned by Berkshire-Hathaway, were the hardest hit domestic insurers, with net losses reaching more than $3 billion.