US third-quarter cat losses among worst in a decade
Property and casualty insurers in the US will pay $US11.5 billion ($16.9 billion) in third-quarter catastrophe claims, the fourth-largest insured property loss for that period since 1998.
The US Insurance Services Office (ISO) released figures last week showing 22 US states were affected by a total of 11 catastrophes during the period, generating 1.7 million claims.
Six of the catastrophes were caused by severe weather including wind, hail, tornados and flooding. Five were caused by tropical storms.
Texas incurred the highest insured losses at $US6.4 billion ($9.4 billion) followed by Louisiana with $US1.9 billion ($2.8 billion) in losses and Ohio with $US1.2 billion ($1.8 billion).
Nationally, there were 36 catastrophes in the nine months to October resulting in insured losses of $US22.1 billion ($32.4 billion) and 3.7 million claims.
The US Insurance Services Office (ISO) released figures last week showing 22 US states were affected by a total of 11 catastrophes during the period, generating 1.7 million claims.
Six of the catastrophes were caused by severe weather including wind, hail, tornados and flooding. Five were caused by tropical storms.
Texas incurred the highest insured losses at $US6.4 billion ($9.4 billion) followed by Louisiana with $US1.9 billion ($2.8 billion) in losses and Ohio with $US1.2 billion ($1.8 billion).
Nationally, there were 36 catastrophes in the nine months to October resulting in insured losses of $US22.1 billion ($32.4 billion) and 3.7 million claims.