U.S. Insurers Report Steep Losses From Natural Disasters
(WIBX) – The Nation’s property and casualty insurance companies are reporting the steepest 6 months of disaster-related losses in more than a decade.
A combined total of nearly $24 billion worth of claims were filed within the first half of 2011.
The CEO of Travelers says his company logged loss-claims higher than those incurred from Hurricane Katrina in 2005.
In August, Allstate announced plans to raise their homeowner’s insurance rates because its storm-related claims totaled more than $2.3 billion.