HMN -- A poor man's GEICO? Message Board

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Non-Tech : HMN -- A poor man's GEICO?

HMN 44.76

-1.3%

Jan 7 3:59 PM EST

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To: Duker who wrote (13)	4/12/1999 11:43:00 AM
From: Duker	of 72

U.S. insured catastrophe losses $1.85 bln in Q1 NEW YORK, April 12 (Reuters) - The U.S. insurance industry paid about $1.85 billion to cover losses from major winter storms in the first quarter, nearly 70 percent higher than catastrophe losses of $1.1 billion in the year ago quarter. Most of the damage took place in January, with four storms resulting in losses of $1.8 billion, according to the Insurance Services Office's Property Claim Services unit. ISO said it was the third most costly January and the fourth most costly first quarter since it began tracking losses in 1949. Thirty states suffered damage from the four January storms. A fifth storm struck the Pacific Northwest in March, generating insured losses of about $50 million. This year's first quarter losses of $1.85 billion were topped by the first quarter losses in 1994, 1993 and 1996. Losses in the 1994 first quarter were about $14.5 billion, with $12.5 billion stemming from the Northridge, Calif. earthquake. Losses in the 1993 first quarter were about $2.9 billion, with $1.75 billion from a March storm. In 1996, first-quarter losses were $2.55 billion, much of it stemming from five separate January storms.

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