Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: maceng2 who wrote (45367)	1/27/2006 9:31:54 AM
From: shades	Respond to of 116555

DJ US Insurers Face Record $56.8B In Payouts For 05 Disasters . NEW YORK (AP)--U.S. property and casualty insurers are expected to pay out a record $56.8 billion for 2005 catastrophes, with more than 90% stemming from the hurricanes that hit Florida and the Gulf states, a company that tracks insurance data said Thursday. The tally for last year was more than double the previous record $27.3 billion paid out in 2004 to cover the losses homeowners and businesses sustained in hurricanes and other storms, according to the ISO's Property Claim Services unit. The ISO, based in Jersey City, N.J., said five hurricanes last year - Katrina, Wilma, Rita, Ophelia and Dennis - affected nine states and accounted for $52.7 billion, or nearly 93%, of the expected claims. States with the highest payouts were those hardest hit by the hurricanes, the company said. They were: - Louisiana, $27.2 billion - Mississippi, $12.2 billion - Florida, $9.9 billion - Texas, $2.9 billion - Alabama, $1.5 billion The ISO also said that the fourth quarter was the most costly on record in the past decade, with Hurricane Wilma responsible for $8.4 billion of the quarter's total $8.9 billion in insured losses. For all of 2005, policyholders in 39 states filed more than 4 million personal and commercial property claims and auto claims, the ISO said. (END) Dow Jones Newswires