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November 03, 2004

Insurers Post Record Catastrophe Losses In Q3

U.S. property and casualty insurers suffered record catastrophe losses in the third quarter after multiple hurricanes battered Florida, the Insurance Services Office said Tuesday. A total of eight catastrophes hit the U.S. and Puerto Rico in the third quarter costing insurers $21.3 billion, said ISO, which crunches claims data for the industry. Hurricanes Charley, Frances, Ivan and Jeanne accounted for $20.5 billion of the total, ISO added.

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Posted by Tom Troceen