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September 29, 2004

Jeanne Makes 2004 Costliest for U.S. Hurricane Losses

Hurricane Jeanne, the fourth major storm to hit Florida this year, has caused between $4 billion and $14 billion in insured losses in the state, meaning that 2004 may now be the insurance industry's costliest year for U.S. hurricane losses. According to ratings agency Fitch the combined 1992 total of $22 billion insured losses (in current dollars) for hurricanes Andrew and Iniki may now have been exceeded by the total losses from Charley, Frances, Ivan and Jeanne. It is the first time four hurricanes have made landfall in the same U.S. state in the same year since 1886, when four hit Texas.

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Posted by Tom Troceen